Reliance Securities has recommended 'Buy' on Eros International Media (EIML) with price target of Rs 600 in its report.

Commenting on the investment rationale, the stock broker said, ''EIML is currently in a sweet spot with its recent release Bajrangi Bhaijaan setting new benchmarks (revenue recognition to take place in 2QFY16E) and the first look of soon to be released magnum opus Bajirao Mastani garnering positive response (to be released in 3QFY16E).

EIML has remained opportunistic in terms of movie acquisitions and has recently garnered the worldwide rights of Rock On 2, a much anticipated sequel. Moreover, the determined push of digital entertainment through Eros Now by parent Eros Plc. in India will create an additional revenue stream for EIML (as per the new restructuring and revenue share agreement).

We like EIML for its strong position in the dynamic films industry, hedged portfolio mix and improving margins. We recommend Buy with target price of Rs 600.'' 

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