Shares of Sun TV Network rallied over 5 per cent to mark a 52-week high of ₹572.45 on the NSE on Wednesday. The South India-based broadcaster recorded its highest net profit in more than 10 quarters at ₹592 crore in Q1FY24.
Rajinikanth’s latest film Jailer was bankrolled by Sun Pictures, the film production arm of Sun TV Network. The movie has already crossed over ₹500 crore in global box office collections in the last two weeks. The current rally could be on the expectations of higher revenues from movie production business in the current quarter.