 "Sun TV")
Brokerages have upgraded the stock of broadcaster Sun TV Network on multiple triggers. Expectations of a stable advertising (ad) revenue growth performance, valuation uptick due to the recent Indian Premier League (IPL) auctions, and attractive valuations have led to positive views on the stock, which hit a 52-week low of Rs 402.55 on the BSE before closing 0.9 per cent up at Rs 412.35.
An operational trigger would be the reversal of ad revenue growth underperformance. Sun TV is gaining market share in the Tamil genre from Zee Tamil over the past three/four quarters.
Say Jaykumar Doshi and Umang Mehta
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