Sun TV Network percentage rate edged decrease withinside the morning consultation on November nine at the same time as international brokerages continue to be upbeat at the enjoyment pay channel community that currently noticed its consolidated income after tax (PAT) develop to Rs 395.fifty five crore for the second one area of FY21 ended September 30.

The corporation mentioned a PAT of Rs 335.02 crore withinside the July-September length a 12 months ago, Sun TV Network stated in a BSE submitting on November five. Its sales from operations become Rs 848.sixty seven crore towards Rs 768.sixty nine crore withinside the corresponding area of the preceding fiscal. Sun TV Networks’ overall fees had been Rs 385.20 crore in Q2 of FY 2021-22.

In a separate submitting, the corporation stated its board declared an meantime dividend of fifty percentage, that’s Rs 2.50 a percentage on a face fee of Rs five in step with percentage for the monetary 12 months 2021-22.

Global studies corporation CLSA has retained “buy” name at the inventory and raised goal to Rs seven-hundred from Rs 635 a percentage, an upside of twenty-two percentage. It is of the view that valuations are appealing with advert sales up forty percentage YoY whilst subscriptions lagged.

Sun TV operates satellite tv for pc channels in Tamil, Telugu, Kannada, Malayalam, and Bangla languages, airs FM radio stations throughout India and owns the Sunrisers Hyderabad franchise of the Indian Premier League.

Sun TV does now no longer see any main effect from NTO-2 and is guiding for double-digit subscription boom and pay out 50 percentage of its income, the brokerage corporation stated.

The new tariff (NTO)-2 has reduce the ceiling for a channel rate from Rs 19 to Rs 12 and additionally revises costs of a bouquet of channels, which analysts say an adversely effect subscription and commercial revenues.

Macquarie has an outperform name at the inventory, with the goal at Rs 632 a percentage, an upside of 10 percentage from cutting-edge level.

The brokerage corporation stated the important thing high-quality from Q2 effects become a pointy healing in commercial sales. “Valuations are affordable at cutting-edge levels,” it added

Nomura, on the alternative hand, has a “neutral” name, with the goal at Rs 644 a percentage, an upside of 12 percentage from cutting-edge level.

It stated the Q2 numbers had been under estimates however the corporation become on a healing path.

Advertising become convalescing however subscribers had been but to select out up. IPL fee may want to have upsides, whilst loss of OTT content material become a structural risk, it stated.

The inventory become buying and selling at Rs 571.75, down Rs 4.90, or 0.eighty five percentage, at nine.forty eight am. It has touched an intraday excessive of Rs 582.70 and an intraday low of Rs 570.50.