Sun TV Shares Falls Over 3% as Earnings Lag Estimates

Sun TV Shares Falls Over 3% as Earnings Lag Estimates

Shares in Sun TV Network Ltd fell as much as 3.63 per cent after earnings miss some analysts' expectations.

Sun TV's earnings disappointed due to lower-than-expected ad revenue and "high" losses from its Indian Premier League franchise Sunrisers Hyderabad, Kotak Institutional Equities said.

But Kotak retained "add" rating and says potential improvement in economic fundamentals "may set stage for strong medium-term growth."

Copyright: Thomson Reuters 2014

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