Prime Focus, which had contributed to the visual effects for 3D Hollywood movie Avatar, believes the global outlook is improving for its services in visual entertainment. It recently won orders worth $11 million from two Hollywood studios. It also wants to increase its capacities in India. Meanwhile, its share price has also moved up significantly in the last one year. The stock is trading at 26 times the FY10 consolidated earnings. High valuations along with high debt in the books and possible dilution (due to a planned QIP) could cap the returns from here.
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