History Offers Hope For Beaten-Down Sun TV In December
Shares of Sun TV Network Ltd. have tumbled this year as the broadcaster’s viewership declined. Still, December may offer respite.
The stock tumbled more than 9 percent in November and has plunged 40 percent so far in 2018. That’s worse than the 27 percent fall in the Nifty Media Index and a 4 percent decline in Nifty 500.
The company’s constantly declining viewership and the lack of traction for its new channels has led to weakness in the stock, according to HSBC.
Yet, December offers a reason to be optimistic. Sun TV has returned gains during the month in 11 of the last 12 years. The last time it declined in December was in 2006. The stock closed 0.62 percent higher on the first trading day of the year’s final month today.
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