Hold PVR, stock to remain at premium valuations: Abhimanyu Sofat

Abhimanyu Sofat of IIFL told CNBC-TV18, "Currently the way things are, I think there was a kind of fall in PVR post demonetisation to some extent. However, I think overall if you look at the story in the multiplex space, we have seen a lot of consolidation happening.""So, if there is a sector where there is a lot of consolidation happening and still there are some kind of fragmented players which are still available in the market, the stock will continue to remain at premium valuations. Considering that, I think if someone owns a PVR, one should continue to hold it at current price," he said."Going forward, Yes Bank should do well with the interest rate reduction and should be the preferred pick at the current valuations."