Regional television major, Sun TV Network has recorded an increase of about 13.1 per cent to Rs 189.88 crore in the third quarter during the third quarter of the year mainly due to higher advertising revenue.
The shares of Sun TV Network rose 7 per cent after the board of directors announced an interim dividend of Rs 3.75 per share.
The shares consolidated on the gains made yesterday of about 5 per cent on the domestic share market. The broadcasting and cable TV operator said in a filing to the stock exchanges where it is listed that the new dividend is in addition to the Rs 2.50 per share that was announced by the board on August 01, 2011.
Chennai, Oct 10 - Sun TV Network's stock prices came down Monday morning as the Central Bureau of Investigation (CBI) raided the residence and office of its promoter Kalanidhi Maran and his younger brother, former union minister Dayanidhi Maran.
Sun TV owns a clutch of leading satellite channels in the four south Indian languages.
The company's share prices came down to Rs. 244 Monday soon after the market opened up from the previous closing price of Rs. 262.90.
At the National Stock Exchange (NSE) the stock opened at Rs. 254.40 and then the price started going down.
It has been revealed, according to recent developments that the first-quarter earnings of Sun TV have moved up by as much as 9.75%. The number is now at Rs. 187.62 crore. The net profits posted by the firm were Rs. 170.95 crore, at around the same time last year.
Stock market analyst Salil Sharma has maintained 'hold' rating on Sun TV Ltd stock with one-week target of Rs 520.
According to analyst, the interested investors can buy the stock with strict stop loss of Rs 485.
Today, the stock of the company opened at Rs 496.50 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 546.90 and a low of Rs 277.05 on BSE.
Current EPS & P/E ratio stood at 15.69 and 31.54 respectively.
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.
Leading Broadcasting firm Sun TV has announced its first quarter financial results for the fiscal year 2010-11. According to the report, it has registered a significant 43% net profit rise.
Sun TV has posted a net profit of Rs 170.95 crore for the quarter that ended in 30th June, 2010. This net profit is 42.69% up from the net profit figure of the similar quarter in the last fiscal.
On Friday, the acquisition of Spicejet was completed by the Chief Executive of Sun TV, Kalanithi Maran, son of Dayanidhi Maran.
Kalanithi bought 37 per cent stake in the low-cost no-frill airlines and entered into the field of aviation.
The acquisition will be done by the holding company of Maran, KAL Airways, in individual capacity. In this the deal, the owning of Boeing's 787 Dreamliner is also included.
The Sun Television network has declared its year-end financial results for the fiscal year 2009-10. The company has posted a net profit of Rs 567.38 crore for the year that ended in 31st March, 2010. This net profit figure has grown up by 29.8 % in this quarter as compared to the same quarter in the last fiscal.
Media conglomerate Sun TV Network as decided to make an investment of Rs 100 crore in 2010-11 with the intention to upgrade infrastructure and acquire content.
While declaring the annual results for the 2009-10 financial year, Mr. Ajay Vidyasagar, Chief Operating Officer, stated, "We will invest around Rs 100 crore across our different business lines this year. Our focus this year will be on monetising all our existing assets."
Kalanidhi Maran promoted Sun TV Network has roped in Sanjay Reddy, Zee Group's southern COO for Telugu, Tamil and Kannada channels.
Reddy will join Sun TV Network as its senior vice-president: Andhra Pradesh with effect from August 24.
Speaking on this, Sun TV Network COO Ajay Vidyasagar said: "We are very excited to have been able to bring in a seasoned professional like Sanjay into the Sun family and are expecting him to bring in a fresh new approach to our business and also to bring in some of the best practices from the industry."
Sun TV Network, has announced that South Asia Multimedia Technologies (SAMT), a shareholder of the company`s arm South Asia FM (SAFL), has increased its stake holding in SAFL to 20%.
SAMT, is an arm of Malysia-based Astro, has already owned 6.98% stake in SAFL.
At present, Sun TV Network holds 59.15% stake in SAFL.
Shares of the company gained Rs 2.7 or 1%, to settle at Rs 271.85.
The total volume of shares traded was 25,423 at the Bombay Stock Exchange (BSE) (Monday).
Kalanithi Maran-promoted television network Sun TV Network has roped in former Star India content and new media president Ajay Vidyasagar as its new chief operating officer (COO) with immediate effect.
This is the first time the country’s second biggest TV network has a COO on board.
Mr. Vidyasagar, who quit Star in March 2009, was responsible for advertisement sales and marketing for the company. He has more than twenty years experience in brand management as well as content creation.