Buy Sun Tv Network, target price Rs 685: IIFL Securities

IIFL Securities has given a 'buy' call on Sun TV Network, with a target price of Rs 685. The current market price of the stock is Rs 664.7. The brokerage firm believes that the company's strong content portfolio and distribution network will continue to drive growth. Additionally, the company's recent acquisition of Zee Entertainment will further strengthen its position in the Indian media and entertainment industry.

About Sun Tv Network:

Sun TV Network Limited is a media conglomerate based in India. It is the largest television network in India in terms of reach and viewership. The company operates 33 television channels in 14 languages across India. It also operates a film production and distribution business, a satellite television provider, and a digital entertainment platform. Sun TV Network was founded in 1992 by Kalanithi Maran, who remains the company's chairman and managing director. The company's headquarters are located in Chennai, Tamil Nadu.

52 Week Price Trend:

Sun TV Network, a leading media conglomerate in India, is currently trading at Rs 664.7, within its 52-week price range of Rs 393.8 and Rs 734.9. Despite experiencing a significant decline from its 52-week high, the stock has been showing signs of recovery in recent months. The company's strong presence in the television broadcasting industry, coupled with its diversified business portfolio, positions it well for future growth. However, investors should carefully consider the current market conditions and the company's financial performance before making any investment decisions.

Stratzy's MOST Analysis:

SUNTV has received an AA- rating from Stratzy's MOST framework, indicating a medium level of fundamental risks. The framework assesses a company's Management, Outlook, Safety, and Trend to determine its overall score. SUNTV's strong performance in these areas suggests that it is a well-managed company with a positive outlook, a strong financial position, and favorable industry trends. This rating indicates that SUNTV is a relatively safe investment with limited downside risk.

Company's Fundamentals:

Sun TV Network's stock currently trades at a Price-to-Earnings (PE) ratio of 13.19, indicating that investors are willing to pay 13.19 times the company's annual earnings per share. The Price-to-Book (PB) ratio of 2.47 suggests that its market value is 2.47 times higher than its book value, implying that investors believe the company's assets are undervalued. Additionally, Sun TV Network offers a Dividend Yield of 2.37%, which represents the annual dividend paid out as a percentage of the current share price. This yield indicates a potential return on investment through dividend payments.

Fundamental and Technical information provided in this blog were last updated on 09 May, 2024

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