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Buy PVR; target of Rs 1870: ICICI Direct

ICICI Direct is bullish on PVR recommended buy rating on the stock with a target price of Rs 1870 in its research report dated January 24, 2022.

January 31, 2022 / 12:08 PM IST
 
 
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ICICI Direct's research report on PVR


PVR Ltd is the market leader in terms of multiplex screen count in India. Currently, it operates 860 screens in 179 cinemas in 73 cities in India and Sri Lanka with an aggregate seating capacity of ~1.82 lakhs seats. With leadership in the high realisation key markets of Maharashtra/NCR, it enjoys superior ATP, SPH and advertisement compared to peers.


Outlook


We maintain BUY rating on the company. We value PVR at Rs 1870 i.e. 13x FY24E EV/EBITDA.

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At 12:07 hrs PVR was quoting at Rs 1,565.45, up Rs 10.40, or 0.67 percent.

It has touched an intraday high of Rs 1,608.40 and an intraday low of Rs 1,565.45.

It was trading with volumes of 52,584 shares, compared to its thirty day average of 117,470 shares, a decrease of -55.24 percent.

In the previous trading session, the share closed up 1.33 percent or Rs 20.35 at Rs 1,555.05.

The share touched its 52-week high Rs 1,838.00 and 52-week low Rs 961.00 on 08 November, 2021 and 19 April, 2021, respectively.

Currently, it is trading 14.83 percent below its 52-week high and 62.9 percent above its 52-week low.

Market capitalisation stands at Rs 9,542.14 crore.

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first published: Jan 31, 2022 12:08 pm
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