India's Sun TV shares fall as earnings lag estimates

Written by Reuters | Updated: Aug 11 2014, 15:33pm hrs
Shares in India's Sun TV Network Ltd fall as much as 3.63 percent after earnings miss some analysts' expectations.

Sun TV's earnings disappoint due to lower-than-expected ad revenue and "high" losses from its Indian Premier League franchise Sunrisers Hyderabad, Kotak Institutional Equities says.

But Kotak retains "add" rating and says potential improvement in economic fundamentals "may set stage for strong medium-term growth."