Sun TV share price: Sun TV Network’s investment case is increasingly extending beyond its traditional television business, with the value of its sports franchises emerging as a key driver of the stock’s valuation.
Domestic brokerage house Elara Securities retained its ‘buy’ rating on the stock and raised its target price on Sun TV to ₹925 from ₹780 per share, indicating a 45% potential upside.
The brokerage remained bullish, arguing that Sun TV combines a highly cash-generative core media business with valuable sports assets, including SunRisers Hyderabad (SRH), SunRisers Eastern Cape (SA20) and SunRisers Leeds (The Hundred). Together, these sports franchises now account for around 45% of Elara’s sum-of-the-parts, or SOTP, equity valuation for Sun TV.
A key part of Elara’s revised valuation argument is the sharp increase in private-market valuations for IPL franchises. The brokerage pointed to the March 2026 transactions involving Rajasthan Royals and Royal Challengers Bengaluru as important benchmarks for valuing established IPL teams.
Rajasthan Royals was sold at a valuation of around $1.6 billion, while Royal Challengers Bengaluru was valued at approximately $1.8 billion. According to Elara, these transactions imply valuations of around ₹15,000-16,700 crore for established IPL teams.