Sun TV Network jumps on bargain hunting

Sun TV Network rose 3.34% to Rs 917.85 at 12:58 IST on BSE on bargain hunting after a recent slide.

Meanwhile, the S&P BSE Sensex was up 121.34 points, or 0.36% to 33,896.

On the BSE, 89,000 shares were traded in the counter so far compared with average daily volumes of 86,116 shares in the past one quarter. The stock had hit a high of Rs 921 and a low of Rs 889 so far during the day. The stock hit a record high of Rs 1,097.05 on 16 January 2018. The stock hit a 52-week low of Rs 652.30 on 10 August 2017.

The stock had underperformed the market over the past 30 days till 19 February 2018, falling 15.32% compared with 4.89% fall in the Sensex. The scrip had outperformed the market in past one quarter, rising 4.70% as against Sensex's 0.89% rise. The scrip had also outperformed the market in past one year, rising 26.88% as against Sensex's 17.84% rise.

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

Shares of Sun TV Network fell 11.35% in three trading sessions to settle at Rs 888.15 yesterday, 19 February 2018, from its close of Rs 1,001.85 on 14 February 2018.

Net profit of Sun TV Network rose 11.2% to Rs 266.97 crore on 15.9% rise in net sales to Rs 683.28 crore in Q3 December 2017 over Q3 December 2016.

Sun TV Network is India's largest television network with thirty-two TV channels and forty-five FM Radio stations in several Indian languages in infotainment covering movies, entertainment, music, documentary and news.

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