ICICI Direct's research report on Sun TV Network
Sun TV Network (Sun TV) is a leading regional broadcaster in India, which owns and operates a bouquet of 32 TV channels prominently across southern market (Tamil, Telugu, Kannada & Malayalam), Marathi and Bengali language and also an over the top (OTT) app SunNXT. • It’s key market - Tamil viewership share has dipped from ~55%+ to ~40%+ in last four to five years, with peers, new entrants lapping up market share.
Outlook
We maintain our HOLD rating. We value at revised TP of Rs 460 i.e., 9x FY25E P/E.
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