Home/ Markets / Stock Markets/  Sun TV Network declares interim dividend, FIIs raise stake in Q3

With a market valuation of 16,855.00 Cr, Sun TV Network is a mid-cap business that operates in the consumer discretionary industry. With 33 TV channels in 6 languages and a coverage of more than 140 million Indian households, Sun TV Network is the largest media conglomerate in India. In addition to the United States, Canada, Europe, Singapore, Malaysia, Sri Lanka, South Africa, Australia, and New Zealand, SunTV Network channels are available in 27 more nations.

The company said in a stock exchange filing that its Board of Directors “have declared an Interim Dividend of Rs. 2.50 / - per equity share of Rs. 5 / - each (i.e. 50%) for the financial year 2022-23." The payment date for the interim dividend shall commence on Wednesday, 29th March 2023.

Sun TV Network's net profit fell 9.77% YoY to 425.00 crore in the quarter that ended in December 2022 as compared to 471.00 crore in the quarter that ended in December 2021. According to the firm, sales fell 16.37% YoY to 886.88 crore in the third quarter of FY23, down from 1060.43 crore in the third quarter of FY22. From Rs. 11.96 in December 2021 to Rs. 10.79 in December 2022, Sun TV Network's EPS has plummeted.

The shares of Sun TV Network closed today on the NSE at 424.30 apiece, down by 1.46% from the previous close of 430.60. The stock recorded a total volume average of 2,66,195 shares. In the last 1 year, the stock has fallen 7.36% and on a YTD basis it has fallen 13.13% so far in 2023. The stock touched a 52-week-high of 568.50 on (10-Nov-2022) and a 52-week-low of 402.55 on (23-June-2022). Sun TV Network has announced an equity dividend of 275.00% at a face value of 5, or 13.75 per share, for the fiscal year ended March 2022. At the current share price of 424.30, this generates a dividend yield of 3.25%. 

During Q3FY23, the company recorded a promoter shareholding of 75.00%, FIIs stake of 10.44%, DIIs stake of 3.79% and a public stake of 10.77%. As per the data of Trendlyne, promoters' stake remains unchanged at 75.00% in December 2022 quarter, FII/FPI raised stake from 9.79% in September 2022 quarter to 10.44% in December 2022 quarter, number of FII/FPI investors plummeted from 274 in Q3FY22 to 273 in Q3FY23, mutual funds holdings raised from 2.92% in Q3FY22 to 2.84% in Q3FY23, and institutional investors have raised holdings from 13.76% in Q3FY22 to 14.23% in Q3FY23.

Vipul Das
Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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Updated: 15 Mar 2023, 05:28 PM IST
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