Motilal Oswal Suggesting To Sell Mid Cap Media & Entertainment Stock, TP Rs 1540

Motilal Oswal is suggesting investors to sell mid-cap Media & Entertainment sector stock, PVR Ltd with a target price of Rs 1540 apiece. Current market price of PVR Ltd on BSE is quoted at Rs 1630.40 apiece with intraday gain of 1.22% (till 1:50 pm) on January 23, 2023. The firm announced its Q3 results recently and declared a profit of Rs 16 crore with revenue surging to 53%. Check details below:

1. PVR Ltd Stock Performance

The current market price of the stock is Rs 1630.40 apiece on BSE with the gain of 1.22% till 1:50 pm on Monday. The stock's 52-week high is Rs 2,211.55 apiece and 52-week low is Rs 1,478.20, respectively. The company has a market capitalisation of Rs 9,991.73 crore.

2. PVR Ltd Stock Return

The stock soared 5% in last 3-months, 23% in last 1-year, and little less than 1% in last 3-years. It has given a return of 20% in last 5-years. The stock fell over 2% in last 1-week.

3. PVR Ltd Q3 Results

The company recently declared its Q3 results. It announced a consolidated net profit of Rs 16.1 crore for the quarter of October to December 2022. It had declared a loss of Rs 10 crore in the year ago period and a loss of 71 crore in the September quarter. It is worth noting that its revenue from operations soared 53% YoY to Rs 941 crore as against Rs 614 crore reported in the corresponding quarter of the previous fiscal. EBITDA or earnings before interest, taxes, depreciation and amortization grew 75.1% YoY to Rs 288.8 crore.

According to PVR's regulatory filing, "The third quarter saw Hollywood's resurgence with the highest grossing movie of the quarter Avatar 2: The Way of Water and was supported by movies like Black Panther: Wakanda Forever and Black Adam."

The dominance of regional cinema continued in the 3rd quarter with blockbusters like Ponniyin Selvan 1 and Love Today. Kantara which turned out to be a sleeper hit was the biggest regional release during the quarter," stated the BSE filing of the company.

4. About PVR Ltd

PVR Limited is one of the largest multiplex players in India operating 854 screens across 173 properties. It provides a diversified cinema viewing experience through its formats and pursuant to acquisition and amalgamation of SPI Cinemas Escape' Sathyam' and Palazzo'. PVR Ltd displays a variety of content to cater to various customer segments in India.

Disclaimer

The stock has been picked from the brokerage report of Motilal Oswal. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.