Stock market analyst Sudarshan Sukhani has maintained 'buy' rating on Sun TV Network Ltd stock to achieve an intraday target of Rs 485.
According to analyst, the interested investors can buy the stock with strict stop loss of Rs 470.
The stock of the company, on August 31, closed at Rs 477.25 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 546.90 and a low of Rs 265 on BSE.
Current EPS & P/E ratio stood at 15.69 and 30.64 respectively.
Sun TV Network is eyeing to declare 2-3 content broadcasting agreements during the existing financial year (2010-11).
Mr. Ajay Vidyasagar, COO, Sun TV, stated, "We run 20 channels so our appetitie for content acquisition is very very high... some of these are with big overseas players and there should at least be 2 or 3 more this year."
In June this year, the company inked an agreement with DQ Entertainment, which is animation and gaming company, in order to offer up animated content.
Moreover, it has decided to roll out a kids entertainment channel in Malayalam by the nexy 12-18 months.
Presently, Sun TV Network, one of the biggest TV as well as radio entertainment companies, runs 20 channels across four south Indian languages that comprise Gemini TV (Telugu), Sun TV (Tamil), and Udaya TV (Kannada) and Surya (Malayalam) that covers up six generations comprising general entertainment, news, music, films, kids and comedy.
- Toshiba, United Technologies ink agreement for global growth in HVAC solutions
- Google offers artificial personal assistant for users ready to give up personal info
- Apple launches iPhone 6, iPhone 6 Plus in India
- Google profits plunges 5 percent YOY, in Q3
- HCL Technologies Q1 Net up 32.3% at Rs 1,873 crore