Jul 06, 2013, 02.11 PM | Source: CNBC-TV18

Buy PVR, target Rs 400: Sharmila Joshi

According to Sharmila Joshi of Peerless Securities, one may buy PVR with a target of about Rs 400.

Sharmila Joshi of Peerless Securities told CNBC-TV18, " PVR has consolidated its position apart from the Cinemax buyout, they bought out another theater in Delhi area. Again the kind of cost rationalization they have done means that they will see better margins going ahead."

"Footfalls in PVR are going to continue and I see little safety in terms of its earnings. I like this stock for a target of about Rs 400, with six-seven months perspective," she added.

The share touched its 52-week high Rs 375.00 and 52-week low Rs 166.80 on 15 May, 2013 and 05 July, 2012, respectively. Currently, it is trading 10.92 percent below its 52-week high and 100.27 percent above its 52-week low. Market capitalisation stands at Rs 1,369.78 crore.

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