{"id":1685,"date":"2021-02-10T12:14:23","date_gmt":"2021-02-10T12:14:23","guid":{"rendered":"http:\/\/www.assetmultiplier.co.in\/blog\/?p=1685"},"modified":"2021-02-10T12:14:23","modified_gmt":"2021-02-10T12:14:23","slug":"optimistic-on-sun-nxt-sun-tv","status":"publish","type":"post","link":"https:\/\/www.assetmultiplier.co.in\/blog\/2021\/02\/10\/optimistic-on-sun-nxt-sun-tv\/","title":{"rendered":"Optimistic on Sun NXT \u2013 Sun TV"},"content":{"rendered":"<p><strong>Update\u00a0on the Indian Equity Market:<\/strong><\/p>\n<p>On Wednesday, Nifty closed in the red at 15,107. Among the sectoral indices, Realty (+1.6%), Pharma (+0.7%), and IT (+0.4%) closed higher. PVT Bank (-0.7%), Fin Services (-0.2%) and FMCG (-0.1%) closed in the red. Cipla (+2.8%), Bajaj Finserv (+2.8%), and SBI Life (+2.7%) closed on a positive note. Eicher Motors (-2.2%), Bharti Airtel (-1.6%), and HDFC Bank (-1.2%) were among the top losers.<\/p>\n<p><u>Excerpts from an interview of Mr. SL Narayan, CFO, Sun Group with CNBC-TV18 dated 09<sup>th <\/sup>February 2021:<\/u><\/p>\n<ul>\n<li>The company expects double-digit growth across financials.<\/li>\n<li>Narayan said things are looking good since January-21.<\/li>\n<li>The advertising revenues are still lagging but the company is in a better position as compared to Q1FY21.<\/li>\n<li>The company was impacted more as compared to large peers because of its dependence on local revenues.<\/li>\n<li>He said the entire ecosystem is affected and hence there is some impact on the company as well.<\/li>\n<li>On Sun NXT, he said the company had a large contract that came up for renewal. However, the negotiations couldn\u2019t be concluded on time and its revenues were not recognized in Q3FY21.<\/li>\n<li>Speaking about subscribers for Sun NXT, he said the company is not spending on customer acquisition because they don\u2019t want to build an OTT at a significant upfront investment.<\/li>\n<li>Movie releases will bring back the growth in subscription revenues.<\/li>\n<li>A lot of new movies will be hitting the screen in coming times.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>Consensus Estimate: (Source: market screener website)<\/p>\n<ul>\n<li>The closing price of Sun TV was\u00a0\u20b9\u00a0528 as of 10-February-2021.\u00a0 It traded at 15x\/13x\/12x the consensus Earnings per share estimate of \u20b9 35.8\/39.3\/42.3 for FY21E\/FY22E\/ FY23E respectively.<\/li>\n<li>The consensus average target price is \u20b9 566\/- which implies a PE multiple of 13x on FY23E EPS of 42.3\/-.<\/li>\n<\/ul>\n<p>Disclaimer: \u201cThe views expressed are for information purposes only. The information provided herein should not be considered as investment advice or research recommendation. The users should rely on their own research and analysis and should consult their own investment advisors to determine the merit, risks, and suitability of the information provided.\u201d<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Update\u00a0on the Indian Equity Market: On Wednesday, Nifty closed in the red at 15,107. Among the sectoral indices, Realty (+1.6%), Pharma (+0.7%), and IT (+0.4%) closed higher. PVT Bank (-0.7%), Fin Services (-0.2%) and FMCG (-0.1%) closed in the red. Cipla (+2.8%), Bajaj Finserv (+2.8%), and SBI Life (+2.7%) closed on a positive note. Eicher [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[183,631],"tags":[195,543],"_links":{"self":[{"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/posts\/1685"}],"collection":[{"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/comments?post=1685"}],"version-history":[{"count":1,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/posts\/1685\/revisions"}],"predecessor-version":[{"id":1686,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/posts\/1685\/revisions\/1686"}],"wp:attachment":[{"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/media?parent=1685"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/categories?post=1685"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/tags?post=1685"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}