Kotak Inst Eqt on SUN TV*
Buy, TP Rs 740
Ad revenue declined 2.5% yoy in 4Q, weak on both absolute & relative basis.
Soft topline & higher costs led to a 14.5% yoy decline in core biz EBITDA
Stock trading at 7X June 2026E core TV biz earnings

*GOLDMAN SACHS on RIL*
Buy, TP Rs 3420
RIL’s current discount to NAV of 19% is its widest since Jan 2021, with recent widening in discount potentially driven by a decline in Singapore refining margins & slight earnings miss in 4Q
Believe multiple +ve catalysts ahead could drive share O-P StockMarket #Investment #FinancialNews #NIFTY Kotak Inst Eqt on SUN TV*
Buy, TP Rs 740
Ad revenue declined 2.5% yoy in 4Q, weak on both absolute & relative basis.
Soft topline & higher costs led to a 14.5% yoy decline in core biz EBITDA
Stock trading at 7X June 2026E core TV biz earnings

*GOLDMAN SACHS on RIL*
Buy, TP Rs 3420
RIL’s current discount to NAV of 19% is its widest since Jan 2021, with recent widening in discount potentially driven by a decline in Singapore refining margins & slight earnings miss in 4Q
Believe multiple +ve catalysts ahead could drive share O-P StockMarket #Investment #FinancialNews #NIFTY

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