Exit Sun TV around Rs 350: SP Tulsian

Exit Sun TV around Rs 350, says SP Tulsian, sptulsian.com.

Tulsian told CNBC-TV18, "in Sun TV promoters are holding 77%, 4 or 5 close associates are holding about 10%, institutional investor stake is about 9-10%, so there is a very low public float and because of that in fact some of the selling by the institutional investor really bought the share to such a low level."

He further added, "If I go by the financials, Rs 20 EPS on the historic earning on FY11 makes the share to rule at PE multiple of 16-17. So the moment it has corrected to about Rs 300-310 obviously we have started seeing the value buying coming in. But honestly I don