Buy PVR INOX, target price Rs 1790: Kotak Securities Limited

Kotak Securities Limited has buy call on PVR INOX with a target price of Rs 1790. The current market price of PVR INOX is Rs 1742.45. Kotak Securities recommended to keep stoploss at Rs 1705.

PVR INOX, incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 17112.42 Crore) operating in Media & Entertainment sector.

PVR INOX key Products/Revenue Segments include Income From Films, Beverages & Food, Fees & Other Charges, Income From Advertisement, Other Operating Revenue and Income from Films Production & Distribution for the year ending 31-Mar-2022.


Financials
For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 1329.80 Crore, up 14.15 % from last quarter Total Income of Rs 1164.92 Crore and up 32.68 % from last year same quarter Total Income of Rs 1002.26 Crore. Company has reported net profit after tax of Rs -82.00 Crore in latest quarter.

Investment Rationale
After a breathe, bullish momentum has resumed which suggests bullish continuation in near term.

Promoter/FII Holdings
Promoters held 27.61 per cent stake in the company as of 30-Jun-2023, while FIIs owned 26.83 per cent, DIIs 33.15 per cent.