Sun TV spurt as exit polls suggest DMK win

Sun TV Network rose 9.47% to Rs 430.50 at 10:23 IST on BSE after exit poll results predicted a victory for opposition DMK in Tamil Nadu.

Meanwhile, the BSE Sensex was up 138.01 points, or 0.54%, to 25,791.24 .

On BSE, so far 3.76 lakh shares were traded in the counter, compared with an average volume of 52,475 shares in the past one quarter. The stock hit a high of Rs 435 and a low of Rs 402 so far during the day. The stock hit a 52-week high of Rs 436 on 1 January 2016. The stock hit a 52-week low of Rs 256.05 on 22 July 2015. The stock had outperformed the market over the past one month till 16 May 2016, rising 9.72% compared with 0.10% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 16.29% as against Sensex's 10.61% rise.

The large-cap company has an equity capital of Rs 197.04 crore. Face value per share is Rs 5.

Chennai-based Sun TV Network owner, Kalalinithi Maran, is the grand nephew of M Karunanidhi, who heads the Dravida Munnetra Kazhagam (DMK), a Dravidian political party in the state of Tamil Nadu.

Majority of the exit polls predict DMK-led alliance is set to win 2016 Tamil Nadu assembly elections. The election results will be announced on 19 May 2016.

Kalanithi Maran held 75% stake in Sun TV Network as of 31 March 2016.

Sun TV Network's net profit rose 0.7% to Rs 215.59 crore on 3.9% growth in net sales to Rs 574.12 crore in Q3 December 2015 over Q3 December 2014.

Sun TV Network is one of the largest television broadcasters in India, operating satellite television channels across four languages of Tamil, Telugu, Kannada and Malayalam and presently airing FM radio stations across India.

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