IIFL Securities Stock Market Watch Today: Buy Sun Tv Network - July 02

IIFL Securities has issued a buy call for Sun TV Network, currently trading at Rs 790.85. Analysts at the firm believe the stock has the potential to reach a target price of Rs 814, indicating an upside of approximately 3%. The recommendation is based on the company's strong financials, market leadership in the media industry, and its diversified portfolio of channels that cater to various demographics. Investors are advised to consider adding Sun TV Network to their portfolios for potential gains.

About Sun Tv Network:

Sun TV Network Limited, listed on the National Stock Exchange (NSE), is a leading media conglomerate in India. Founded in 1992, the company's core business is television broadcasting, with a wide network of channels across India and international territories. It operates over 33 television channels in multiple languages, reaching over 900 million viewers worldwide. Sun TV Network also has a strong presence in the film production, distribution, and satellite television sectors. The company's headquarters is located in Chennai, Tamil Nadu, and it has a wide presence throughout India and internationally.

52 Week Price Trend:

At its current market price of Rs 790.85, Sun TV Network (SUNTV) is trading at a premium of 7.6% to its 52-week high of Rs 734.9. This significant gap highlights the market's confidence in the company's prospects. However, it's worth noting that the stock has experienced considerable volatility in the past year, as indicated by its 52-week low of Rs 393.8. This wide range suggests that investors should exercise caution and carefully evaluate the company's fundamentals before making investment decisions.

Stratzy's MOST Analysis:

According to Stratzy's MOST framework, SUNTV has received an AA- rating. This implies that SUNTV's management, outlook, safety and trend are all considered to be of high quality, indicating low fundamental risks. The robust management team, positive industry outlook, solid financial standing and consistent performance trend of SUNTV contribute to its favorable rating.

Company's Fundamentals:

Sun TV Network (NSE: SUNTV) is a media and entertainment conglomerate listed on the National Stock Exchange (NSE) of India. Its stock has 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 for its stock. The price-to-book (PB) ratio of 2.47 suggests that the market value of the company is 2.47 times its book value, which is the value of its assets minus its liabilities. Additionally, SUNTV offers a dividend yield of 2.37%, indicating that investors can expect to receive a 2.37% return on their investment through dividends.

Fundamental and Technical information provided in this blog were last updated on 02 Jul, 2024

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