Dipan Mehta, Member, BSE/NSE is of the view that Adlabs Films is a good attractive buy at these levels.

Mehta told CNBC-TV18, "Adlabs is a good attractive buy at these levels. We have investments and recommendation in this stock. It’s got a lot of cash on its balance sheet, which it is going to deploy to acquire assets in the exhibition space. A bit not clear about how the film production business going to shapeup given that the other ADAG group companies engaged in that line of business. But by and large prospects of Adlabs are attractive at this point and the correction is adequate, so as to warrant that its attractively valued and would be available at a reasonable PE multiple."

He further added, "On the whole the way the media industry is going for this fantastic, the growth rates are in excess of 18% for the industry as a whole and some of the sectors within the media industry are growing about 25% or thereabouts. So this is one industry where the numbers are getting larger and larger, which is quite evident from some of the developments, which have taken place be it the Indian Premier League or be the kind of revenues which average film is able to garner in the first two-three weeks of release. So it’s the whole industry is becoming larger at the same time they are getting corporatised and a lot of dynamism is there in terms of companies as well as management. So within the entire spectrum of midcap stocks media is one sector on which we have unusually large weightage and we are quite comfortable with that.