Sun TV up as deal with Arasu Cable seen soon

Shares of Sun TV Network Ltd rose in expectation of ease in compression of cable revenues once the boradcaster signs agreement with Tamil Nadu Arasu Cable TV Corp Ltd, said two institutional sales persons.

Morgan Stanley said in a post-earnings report that the company expects the deal to be signed in the third quarter. On Thursday, Sun TV posted a net profit of 1.8 billion rupees in July-Sept, up 7.6 per cent from a year ago.

At 12.20 a.m., shares in the company were trading up 4.29 per cent at 285.55 rupees.