Buy Sun TV Network on declines, says Sanjiv Bhasin

Sanjiv Bhasin of IIFL told CNBC-TV18, "Sun TV's stock price was telling that something was in the offing from the last one month. We have upgraded our stock because of the sheer discount to on valuation to Zee Entertainment closer to Rs 520. So, we think you could be surprised on the upside with Rs 800 being the target.""In this whole demonetisation, given the advent of the e-wallets there has been strong growth on the ad revenues front for both Zee and Sun. So, for us this becomes a very good value accretive play. In fact we think the narrowing of the discount with Zee may continue to see either this going up or Zee going down," he said."On declines, this becomes a very good play to play on the consumption side particularly after this whole imbroglio of the Maran brothers has been settled."