India's Sun TV Network hits over 4-yr high as Nuvama forecasts revenue pickup

Sun TV Network

31/08/2023 05:41

** Shares of India-based broadcaster Sun TV Network
 SUTV.NS  rise as much as 2.45% at 628.50 rupees, their highest
since April 8, 2019 
    ** Brokerage Nuvama says co likely to see a steady pickup in
ad revenue and subscriptions, adds that H2FY24 and FY25 look
promising 
    ** SUTV's foray in North needs to be more focused, need to
ramp up OTT presence - Nuvama notes 
    ** The ratings agency maintains "buy" with TP 750 rupees 
    ** Mean recommendation of 17 analysts is "buy", median TP
615 rupees - Refinitiv data 
    ** Sun TV stock up ~28% YTD 

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))