Cheering the news, the share price of Sun TV Network on Thursday jumped 2.73 per cent at Rs 334.65 on the BSE (at 10.19 am). (Express Photo)
Sun TV Network shares gained on Thursday after the company announced a multi-year deal with video-on-demand service firm HOOQ, a start up joint venture established by Singtel, Sony Pictures Television and Warner Bros in January this year. The announcement was made after market hours on Wednesday .
Cheering the news, the share price of Sun TV Network on Thursday jumped 2.73 per cent at Rs 334.65 on the BSE (at 10.19 am). It opened at Rs 340 and had touched a high and low of Rs 340 and Rs 328, respectively, in trade so far. The BSE Sensex was up 347.62 points, or 1.35 per cent, at 26,062.28.
On the NSE, the scrip was trading 2.67 per cent higher at Rs 334.35 at the same time. The NSE Nifty was up 109.55 points, or 1.47 per cent, at 7,901.40.
Under the agreement HOOQ would now carry Sun TV’s library that includes a mix of films in Tamil, Telugu, Malayalam and Kannada languages including the latest hit movies. At present, HOOQ operates in the Philippines, Thailand and India with a poplulation footprint of over 1.4 billion people.
According to Angel Broking, with around 33 channels across the South Indian languages, Sun Group’s existing library has about 11,000 titles, which is said to be among the largest in the industry.
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