Sun TV Network falls after DMK pulls out from UPA
The company promoter Kalanithi Maran, brother of former union minister Dayanidhi Maran, is a nephew of DMK chief M Karunanidhi.
Sun TV Network has dipped almost 5% to Rs 416 after the Dravida Munnetra Kazhagam (DMK) decided to pull out of the United Progressive Alliance (UPA) alliance, over Sri Lankan issue.
The stock opened at Rs 437 and hit a low of Rs 408 on BSE. A combined 577,337 shares have changed hands on the counter so far on BSE and NSE.
Chennai-based Sun TV Network, one of India's biggest television networks,is owned and run by Kalanidhi Maran, the nephew of DMK chief M Karunanidhi.
Meanwhile, Citigroup downgraded the stock to "neutral" from "buy", citing its stronger performance compared with peers recently, the Reuters report suggest.
Meanwhile, Citigroup downgraded the stock to "neutral" from "buy", citing its stronger performance compared with peers recently, the Reuters report suggest.
The stock opened at Rs 437 and hit a low of Rs 408 on BSE. A combined 577,337 shares have changed hands on the counter so far on BSE and NSE.