Reliance Securities has recommended 'Buy' on PVR with target price of Rs 1,000 in its report.

Commenting on the investment rationale, the stock broker said, ''After successive inorganic acquisitions of Cinemax and DT Cinemas, PVR has become the single largest national multiplex chain in the country. The leadership position gives PVR leverage over producers and distributors for movie exhibition revenue share and also aids economies of scale. Further, it is steadily expanding its screen presence through organic expansion.

We believe, with cinema emerging as a popular entertainment source coupled with increased penetration of multiplexes and strong movies line up, PVR will stand in good stead in the ensuing quarters. Further, PVR has made its presence felt in small towns through its value brand PVR Talkies. The company is present in urban cities through both Cinemax (mid-value brand) and PVR (high-value brand). Thus, PVR is well positioned to capture movie-going consumers across all price points. We have a Buy recommendation on PVR with a target price of Rs1,000.''

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