Sun TV Network, incorporated in the year 1985, is a Mid Cap company (having a market cap of Rs 18675.67 Crore) operating in Media & Entertainment sector.

Sun TV Network is expected to be giving a breakdown of a wedge like pattern on the daily timeframe after seven months with decent volumes and the supertrend indicator is also indicating a downwards move which can be used as a confluence towards the bearish view.

Broadcasters have welcomed the move after disagreeing with an earlier version and delaying its implementation by three years.

ICICI Direct recommended hold rating on Sun TV Network with a target price of Rs 555 in its research report dated November 13, 2022.

Wall Street's main indexes ended Monday roughly down on fears that China could resume stricter measures to fight COVID-19 after it said it faces its most severe test of the pandemic.

Wall Street's main indexes ended lower on Wednesday as a grim outlook from Target spurred fresh concerns about retailers heading into the crucial holiday season, while semiconductor shares slid after Micron's supply cut.

Wall Street's main indexes gained on Tuesday, shaking off an unconfirmed report of Russian missiles crossing into Poland that sparked volatility, as investors seized on softer-than-expected inflation data that raised hopes of a pullback in rate hikes by the U.S. Federal Reserve.

Investors are priming for a bounce across Asian equity markets Friday after slower-than-expected US inflation data indicated smaller Federal Reserve rate hikes and triggered the biggest jump for US shares in two years.

The pressure on advertising revenues started last year when Apple changed how different apps tracked user data (or the Identifier for Advertisers (IDFA) policy). There is an old saying in commercial broadcasting, “if you are not paying for the product, you are the product”.

Zydus Wellness has recently given a triangle pattern breakout near its long term support area on the weekly timeframe. The 200 EMA is at Rs 1,680 and the stock is comfortably sustaining above it, which can be used as a confluence to the bullish view.

On Zee, the brokerage has given a buy call for a target price of Rs 370, which signals a 32% potential upside. For Sun TV also the brokerage has given a buy call with a target of Rs 760, over 44% upside potential.

“I still firmly believe that a lot of pent up demand exists in the economy and amongst consumers and businesses and as a result, the second half probably should be very strong or resilient in terms of growth. Now when you tie this into the market and given the fact that markets tend to discount 12 months forward earnings, Indian market at Nifty level will do something close to Rs 1,000 of EPS in FY24. ”

ICICI Direct recommended hold rating on Sun TV Network with a target price of Rs 515 in its research report dated August 13, 2022.

Sun TV operates satellite television channels across Tamil, Telugu, Kannada, Malayalam, Bangla and Marathi. It has FM radio stations and owns the SunRisers Hyderabad Franchise of the Indian Premier League as well as the OTT platform Sun NXT.

A bench comprising Chief Justice N V Ramana and Justices J K Maheshwari and Hima Kohli was apprised by senior advocate Mukul Rohatgi, appearing for SpiceJet, that there were three pending issues between the low-cost airline and Maran and out of these, one has been settled on July 29.

Motilal Oswal is bullish on Sun TV Network recommended buy rating on the stock with a target price of Rs 550 in its research report dated August 13, 2022.

The company had reported a profit after tax of Rs 365.03 crore in the April-June period a year ago

Post consolidating in a range in last couple of months, Sun TV Network witnessed a buying interest and has given a breakout from that consolidation. The volumes along with the breakout were high which is a positive sign.