Sun TV Network IS PREPARING FOR POTENTIAL SRH DEMERGER

Shares of Tamil Nadu-based entertainment company Sun TV Network rose for the eighth consecutive session on September 30, gaining nearly 47% during the eight-session rally. The stock surged as much as 18% on Wednesday following a CNBC-Awaaz report that the company is preparing for a potential demerger of the assets of its IPL franchise, SunRisers Hyderabad. The broader media sector also witnessed strong buying interest, with the Nifty Media index rising nearly 4%, led by a sharp rally in Sun TV Network. Other media stocks, including PVR INOX and Saregama India, gained more than 4% and 3%, respectively. The sectoral index advanced for a second consecutive session. At its 41st Annual General Meeting held on September 18, 2026, Sun TV Network shareholders approved the adoption of the audited financial statements for FY26 and confirmed the interim dividends. Of the 103,045 shareholders on the record date, holders of 39,40,84,620 shares participated in the voting, representing 94.25% of the company’s outstanding shares. The promoter group, which holds 29,55,63,457 shares, participated fully through e-voting and cast 100% of its votes. According to an expert report cited in the market, SunRisers Hyderabad’s IPL franchise could be valued at around $1.4 billion-$1.5 billion, equivalent to approximately ₹13,000 crore-₹14,000 crore. The report also noted that IPL-related revenue contributed around 33% of Sun TV Network’s total revenue in the first quarter, highlighting the significant contribution of the cricket franchise to the company’s business.