Sun TV Network, Raj Television soar over 10%

Raj Television Network has rallied 20% to Rs 69.25, while Sun TV Network surged 12% to Rs 493 on the NSE in intra-day.

Shares of South-based listed broadcasting & cable TV companies such as Sun TV Network and Raj Television Network have rallied by up to 20% in intra-day trade on back of heavy volumes.

Raj Television Network has soared 20% to Rs 69.25 on the National Stock Exchange (NSE) in intra-day trade.

At 03:11 pm; the stock was up 19% at Rs 68.80, with a combined 642,136 shares changed hands on the counter on the NSE and BSE.

The Raj Television Network is a Tamil language entertainment channel based in Chennai, the second largest television satellite broadcasters in south India.

Shares of Kalanithi Maran-owned Sun TV Network has surged 12% to Rs 493 on the NSE in intra-day trade. The trading volumes on the counter jumped more than 10-fold with a combined 10.83 million shares changed hands on both the exchanges.

Kalanithi Maran is the grand nephew of M Karunanidhi, who heads All India Anna Dravida Munnetra Kazhagam (AIADMK) main rival DMK party.

According to media reports, Tamil Nadu Chief Minister J Jayalalithaa suffered a cardiac arrest this evening, said Chennai-based Apollo Hospitals. CLICK HERE TO READ FULL REPORT.

The Nifty50 index was up 0.50% at 8,128 points.