STOCK ALERT: Sun TV Network, SpiceJet tank as CBI questions promoters

Sun TV Network plunged almost 23% to Rs 228 on the NSE

Sun TV Network and SpiceJet have tanked up to 40% on the bourses in morning trades on reports that the Central Bureau of Investigation (CBI) has questioned the Maran Brothers in Aircel-Maxis deal case.

“Former Union Textile Minister and Lok Sabha MP Dayanidhi Maran and Sun Group chairman and managing director Kalanithi Maran were questioned by the CBI on the Aircel-Maxis deal,” the report suggests.

Sun TV Network is currently trading 16% lower at Rs 249, plunged almost 23% to Rs 228 on the National Stock Exchange. On the Bombay Stock Exchange (BSE), the stock tanked 40% to Rs 177, now trading at Rs 251, 15% lower over the previous day’s close.

A combined 2.4 million shares have already changed hands on the counter in opening trades, as against an average of less than one million shares that were traded daily in past two weeks on both the exchanges. SpiceJet, too, slipped 12% at Rs 24.85 in opening trades, is currently trading 4% down at Rs 27.20 on the BSE. Around 4.05 million shares have changed hands on the counter till 0936 hours.

According to PTI reports, former telecom minister Dayanidhi Maran  in connection with the allegations that he had received Rs 547 crore as kickbacks from a Malaysian company in the controversial Aircel-Maxis deal.