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Dec 05, 2012, 03.24 PM IST | Source: Moneycontrol.com

Sun TV hits fresh 52-week high on UBS buy report

Chennai-based media company Sun TV Network rallied 2 percent to touch a new 52-week high of Rs 422.40 on Wednesday after foreign research firm UBS upped its traget price at Rs 480 a share.

Chennai-based media company Sun TV Network rallied 2 percent to touch a new 52-week high of Rs 422.40 on Wednesday after foreign research firm UBS upped its traget price at Rs 480 a share.

The reason for the upgrade UBS said was the management guidance for double-digit growth in advertisement revenue on the back of higher viewership ratings and robust advertisement spends by FMCG companies.

On November 12 (after second quarter results), in an interview with CNBC-TV18, SL Narayanan, Group CFO at Sun Group said 55 percent of the ad revenue for the company came in from the FMCG sector, where he would expect a distinct shift in spending pattern. " We expect double-digit ad revenue growth rate for the third quarter of this year," he said.

However, the net profit of the company declined 15.8 percent year-on-year to Rs 151.65 crore in the July-September quarter of 2012. Income from operations for the second quarter dipped to Rs 433.34 crore as against Rs 451.26 crore registered during the same period last year.

The stock gained 25 percent in a month, especially after the results announcement. At 14:09 hours IST, the share rose 1.6 percent to Rs 420.70 on the Bombay Stock Exchange.

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Sun TV Network stock price

On November 25, 2014, Sun TV Network closed at Rs 319.15, down Rs 5.75, or 1.77 percent. The 52-week high of the share was Rs 488.00 and the 52-week low was Rs 298.55.


The company's trailing 12-month (TTM) EPS was at Rs 17.85 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 17.88. The latest book value of the company is Rs 80.49 per share. At current value, the price-to-book value of the company is 3.97.

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