May 14, 2018 / 4:55 AM / 6 days ago

BUZZ-India's Sun TV gains most in over 8 months on strong Q4 show

** Sun TV Network Ltd rises as much as 11.7 pct to 969.90 rupees, its biggest intraday pct gain since Sept 1, 2017 and highest since Feb 16

** South Indian broadcaster on Friday reported a 23 pct growth in March-qtr profit, with advertisement rev growing 26 pct, subscription rev rising 28 pct

** Nomura upgrades stock to “buy”; raises target price to 1,105 rupees

** Progress of digitisation in Tamil Nadu state, digital deals at 10-15 rupees Avg Rev Per User (ARPU) improve visibility on subscription growth in near-term, say analysts at Nomura

** Motilal Oswal expects strong momentum in ad revenue, “led by a healthy ad outlook, a steady shift to the commission model in TN market and a consistent healthy viewership share”

** Twenty out of 25 brokerages rate stock “buy” or higher; median PT is 1,138.50 rupees

** Up to Friday, stock has fallen 12.3 pct, compared with a 1.9 pct gain in rival Zee Entertainment Enterprises Ltd and a 15.6 pct decline in regional competitor Raj Television Network

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