Buy Sun TV Network, says Vikash Mantri

Vikash Mantri, Media Analyst at I-Sec is of the view that one can buy Sun TV Network.

Mantri told CNBC-TV18, "In Sun TV Network we are looking for a significant upside from current levels and more importantly because the stock has corrected significantly in the last few months because of risk which are more political in nature and not directly linked to the company per se. We believe Sun TV sits on very good assets in the southern market and while one of the markets might be at risk due to the uncertainty in the ground level in terms of distribution I think investors are not very comfortable with the political risks that are associated."
He further added, "I believe the Andhra market and the Karnataka market is devoid of any such risk and I would buy this stock at these levels only for presence in these two markets, forget their very strong presence in the Tamil Nadu market which we believe will continue to say. However, this stock continues to be troubled because of other risks that are associated and investors are not very comfortable taking in those risks."
"We see that a similar situation did arise a way back in 2008 and then things turned positive for Sun TV where the risk did not materialise in that way. So we continue to have a very positive outlook on Sun TV. Yes, some of the risks which are political in nature are not very quantifiable but I would still buy it for the assets that it owns in Karnataka and Andhra Pradesh clearly."