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Shares of Sun TV jumped in morning trade on the BSE on Monday.
Sun TV shares rose 14 per cent and were set to log their biggest daily gain since May 2009.
Citi has upgraded the stock to buy from sell after the company’s first quarter results. It said that phase 3 and 4 of digitisation in India should boost subscription revenues. The stock has 18 buy, 4 hold and 2 sell ratings, according to Eikon data.
At 11.20 am, the stock was up 14.37 per cent or Rs 48.35 at Rs 384.90 on the BSE. The jump in share price was accompanied by a spurt in volume by more than 2.28 times.
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