Sun TV, Raj TV rally after Sasikala's conviction; analysts advise exit

Shares of Tamil Nadu - based television channels, Sun TV and Raj Television Network (RAJ TV) spiked up to 13%, after the Supreme Court (SC) quashed Karnataka High Court verdict that acquitted AIADMK General Secretary, Sasikala Natarajan, in the disproportionate assets case.

Raj Television Network surged as much as 13% to Rs 73, while Sun TV rose 4% to Rs 741 on the Bombay Stock Exchange (BSE). 

Following the development, Sasikala Natrajan will have to surrender herself to jail for undergoing remaining jail term, reports suggest.

Supreme Court, however, abated the appeal proceedings against late Jayalalithaa owing to her death