Sun TV Network Hits 52-Week Low

Sun TV Network's share price reached a 52-week low of Rs 402.55, 1.5% below BSE in Thursday's strong market trading. Shares of television broadcast and software production companies have fallen 10% in the last two trading sessions, eliminating all profits posted after the completion of the long-awaited Indian Premier League (IPL) rights in 2023-27.

Sun TV Network is one of the largest television stations in India, operating satellite television channels in six languages: Tamil, Telugu, Kannada, Malayalam, Bangla, and Marathi, throughout India. Broadcasts FM radio stations and owns the SunRisers Hyderabad Cricket franchise in India of the Premier League and digital OTT platform Sun NXT.

Analysts at ICICI Securities said in the latest information on the media sector that the ultimate economics is the player's salary cap (currently 8 billion rupees) and other franchise costs, considering the high availability of earnings. 

In the beyond six months, Sun TV has underperformed the marketplace by falling 18% compared to a 9% decline withinside the S&P BSE Sensex. While, withinside the final 12 months the inventory has slipped 24%, towards a 0.07% upward push withinside the benchmark index.