Sun TV Network gains after partnering with HOOQ

Sun TV Network rose 2.24% to Rs 333.05 at 10:00 IST on BSE after the company said that it has partnered with HOOQ, Asia's biggest premium video-on-demand service in a multi-year deal.

The company made announcement after market hours yesterday, 26 August 2015.

Meanwhile, the BSE Sensex was up 303.01 points, or 1.18% to 26,017.67.

On BSE, so far 42,784 shares were traded in the counter, compared with an average volume of 4.23 lakh shares in the past one quarter.

The stock hit a high of Rs 340 and a low of Rs 328 so far during the day. The stock had hit 52-week high of Rs 459.95 on 20 March 2015. The stock hit a 52-week low of Rs 256.05 on 22 July 2015.

The stock had outperformed the market over the past one month till 26 August 2015, rising 16.48% compared with 8.53% fall in the Sensex. The stock had, however, underperformed the market in past one quarter, declining 12.16% as against Sensex's 6.6% decline.

The large-cap company has an equity capital of Rs 197.04 crore. Face value per share is Rs 5.

Sun TV Network said the company has partnered with HOOQ platform for delivery of movies with HOOQ's premium video on demand (VOD) service. HOOQ has recently entered into the Indian market with over 30,000 hours of movies and TV series and will now carry Sun TV's library that includes a mix of super hit films from Tamil, Telugu, Malayalam & Kannada languages, Sun TV Network said in a statement.

Sun TV Network's net profit rose 19.1% to Rs 197.28 crore on 9.2% growth in total income to Rs 713.24 crore in Q1 June 2015 over Q1 June 2014.

Sun TV Network is engaged in producing and broadcasting satellite television and radio programs in India.

Powered by Capital Market - Live News