This Media Company Stock Has Been Gaining And Is Close To Its 52-Week High

Sun TV Network in trade on Monday (October 25, 2021) has gained up to 3.73 percent to day's high price of Rs. 571.05 as against the stock's last closing price of Rs. 550.5 per share.

This Media Company Stock Has Been Gaining And Is Close To Its 52-Week High

The uptrend in the stock may be fuelled by positive sentiment around it. The stock has been given a buy for as short term as it is said to follow an uptrend and has reversed from the support of 200 DMA (daily moving average) as well.

Furthermore, on the formation of an Ascending triangle pattern there is expected a breakout above Rs 570. Indicators like MACD and RSI suggest that the positive momentum in the stock is likely to continue. The near term target for the stock is Rs. 700 and the stop loss suggestion is Rs. 470.

Also, in the brokerage report, ICICI Direct has come up with earnings estimate for the firm that are signaling growth. The brokerage house expects Sun TV to report net profit at Rs 406.7 crore up 17.6% year-on-year (up 4.3% quarter-on-quarter).Net Sales are expected to increase by 10.1 percent Y-o-Y (up 2.7 percent Q-o-Q) to Rs 832.3 crore, according to ICICI Direct.

Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to rise by 5.2 percent Y-o-Y (up 6.7 percent Q-o-Q) to Rs 528.3 crore.
In the previous June ended quarter, the firm total income at Rs. 866 crore and profitability at Rs. 389.76 crore.

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