Sun TV share price, Oct. 9 -- 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 Rs.925 from Rs.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,...