Sun TV Network has dipped 4% to Rs 342 on reports that the company won the Hyderabad franchise of the Indian Premier League (IPL) for higher price at Rs 85.05 crore per year.
“The IPL Governing Council met in Mumbai on Thursday to open the bids for the new IPL franchise and Sun TV was found to have the highest bid amount,” the PTI report suggests.
The Sun TV Network bid was substantially higher than the second bid of PVP Ventures, which was Rs 69.03 crore.
The stock opened at Rs 356 and hit a low of Rs 340 on the BSE. A combined 817,144 shares have changed hands on the counter so far on both the exchanges.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app