BSE 500 Stock Sun TV Network Declares Dividend, Record And Payment Date Set; Target Price?

Three daily newspapers, six magazines, two sports franchises, 69 FM radio stations, 37 television channels in seven languages, and DTH (direct-to-home) broadcasting are all part of Sun TV Network. With 37 TV stations in seven languages, Sun TV Network is the largest media company in India. Following the Board's announcement of the interim dividend for FY25, Sun TV Network's shares ended Monday at Rs 560.75 per share, down 1.63%, with a market value of Rs 22,098.30 Cr.

Sun TV Network Dividend

"We hereby submit / inform that the Board of Directors at their meeting held on 7th March 2025, (commenced at 2.30 p.m. and concluded at 3.30 p.m.) have approved and declared an Interim Dividend of Rs. 2.50/- per equity share of Rs. 5/- each (i.e. 50%) for the financial year 2024-25," said Sun TV Network in a stock exchange filing.

Sun TV Network Dividend Record Date & Payment Date

"This is to inform you that Thursday, 13th March, 2025 shall be the Record Date for the Interim Dividend if any, declared at the Board Meeting to be held on Friday, 7th March, 2025. The Payment for the Interim Dividend if any, declared shall be paid within 30 days from the date of declaration as per the provisions of the Companies Act 2013," Sun TV Network informed stock exchanges.

Sun TV Network Financials

The company's net profit for the December quarter was Rs 363 crore, down 20% year on year (YoY) from Q3 FY24's Rs 453.9 crore. Net revenue decreased 10.4% to Rs 827.6 crore from Rs 923.2 crore in the same quarter of the previous fiscal. In the third quarter of the current fiscal year, EBITDA dropped 24.6% to Rs 444.3 crore from Rs 589.4 crore during the same period of FY24. The EBITDA margin dropped from 63.8% in Q3FY24 to 53.7% in Q3FY25.

Sun TV Network Share Price Target

Mandar Bhojane - Equity Research Analyst at Choice Broking said, "SUNTV India is currently trading at ₹558 and remains under selling pressure, forming lower lows and lower highs-a pattern indicating a sustained bearish trend since early August. The stock has declined by 39% since then and recently breached the critical ₹592 support level. It is now trading below the 20-day, 50-day, and 200-day EMAs, reinforcing a negative outlook."

"Additionally, the stock has formed a bearish flag and pole pattern, and a breakdown from this formation could accelerate the downward trend. The Relative Strength Index (RSI) stands at 33.88 and continues to decline, signaling increasing selling momentum," the analyst added.

"Looking ahead, the ₹546-₹518 range is expected to act as a strong support zone, as these levels have historically attracted buying interest. If the stock stabilizes within this range, a potential rebound could be triggered. However, a breakdown below ₹518 may expose the stock to further selling pressure. Given the prevailing market conditions, traders and investors should exercise caution and wait for confirmation of price action before considering fresh positions," Mandar Bhojane further recommended.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.