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Sun TV Shares Fall 2 Percent on Profit Booking While Elara Sees 45 Percent Upside
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Moneycontrol•08-10-2026, 13:13
Sun TV Shares Fall 2 Percent on Profit Booking While Elara Sees 45 Percent Upside
- •Sun TV Network shares snapped a three-day gaining streak to trade over 2 percent lower amid profit booking in broader markets.
- •Elara Securities retained its buy rating on the stock and raised its target price to Rs 925 per share.
- •The brokerage highlighted the company's strong cash-generative television business and profitable sports franchises.
- •Sports franchises like SunRisers Hyderabad, SunRisers Eastern Cape and SunRisers Leeds account for about 45 percent of Elara's valuation.
- •The core media business maintains high margins above 60 percent despite flat advertising and subscription revenue.
Key Questions Answered
Sun TV Network shares fell over 2 percent due to profit booking after a three-day gaining streak, while tracking a broader market decline.
Elara Securities retained a 'buy' rating on Sun TV Network and raised its target price to Rs 925 per share from Rs 780 earlier.
Elara Securities noted that the company's valuation is supported by its cash-generative television business and strong sports franchises, including SunRisers Hyderabad, SunRisers Eastern Cape, and SunRisers Leeds.
