Meanwhile, the BSE Sensex was up 120.58 points, or 0.71%, to 17,093.09.

On BSE, 1.59 lakh shares were traded in the counter as against an average daily volume of 98,303 shares in the past one quarter.

The stock hit a high of Rs 300.90 and a low of Rs 280.35 so far during the day. The stock had hit a 52-week high of Rs 370.75 on 27 June 2011. The stock had hit a 52-week low of Rs 214.50 on 4 October 2011.

The stock had outperformed the market over the past one month until 22 June 2012, gaining 10.89% compared with the Sensex's 5.90% rise. The scrip had, however, underperformed the market in past one quarter, falling 10.53% as against 1.30% fall in the Sensex.

The large-cap company has an equity capital of Rs 197.04 crore. Face value per share is Rs 5.

According to report, Sun TV Network has budgeted Rs 180-200 crore as capital expenditure (capex) for the current financial year, which will mostly be spent on programming operations and upgrading equipment. Besides, the company has lined up Rs 250-260 crore to acquire movies for distribution.

Sun TV Network's net profit fell 23.7% to Rs 159.03 crore on 7.3% decline in net sales to Rs 427.01 crore in Q4 March 2012 over Q4 March 2011.

Sun TV Network offers satellite television channels across four languages of Tamil, Telugu, Kannada, Malayalam. It also airs FM radio stations across India.