Sun TV shares fall as earnings lag estimates

Reuters Market Eye - Shares in Sun TV Network Ltd fall over 4.5 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."

(Reporting by Indulal PM)