Sun TV shares rally 8% as promoter legal notices withdrawn; check details

Sun TV shares rose 8 per cent after it said that legal notices issued by a family member to promoter Kalanithi Maran were withdrawn

Shares of Sun TV Network rose nearly 8 per cent on Monday after the company informed exchanges that legal notices issued by a family member to promoter had been “unconditionally and irrevocably” withdrawn.

 

The media conglomerate's stock rose as much as 7.69 per cent during the day to ₹591.8 per share, the biggest intraday rise since March 19 this year. The stock pared gains to trade 4 per cent higher at ₹571.3 apiece, compared to a 0.5 per cent advance in Nifty 50 as of 1:27 PM. 

 

Shares of the company have fallen 18 per cent from their April peak and currently trade at 5.7 times the average 30-day trading volume, according to Bloomberg. The counter has fallen 17 per cent this year, compared to a 3.3 per cent advance in the benchmark Nifty 50. Sun TV has a total market capitalisation of ₹22,305.19 crore.  Track LIVE Stock Market Updates Here

 

Maran VS Maran feud 

In an exchange filing, the company said that the legal notices issued by the "family member" to the promoter, his relative and other unrelated individuals have been unconditionally and irrevocably withdrawn by the said family member, and the issues hereby stand resolved.

 

"We reiterate that the issue of the legal notices and the withdrawal of such legal notices do not pertain to the business or management of the company or its day-to-day functioning and being the family matter of the promoter, are purely personal in nature," the statement said.  

 

The filing, however, did not mention the name of the "family member". 

 

Earlier, the former Union Minister and DMK Member of Parliament Dayanidhi Maran sent a legal notice to his brother Kalanithi Maran, accusing him of engaging in “fraudulent practices”, according to reports. The MP alleged his brother of cheating and money laundering during his tenure as chairman of the media conglomerate Sun TV Network. 

 

The legal notice, served to Kalanithi Maran and seven other respondents, including his wife, Kaveri Maran, calls for the restoration of Sun TV's shareholding to its 2003 levels. 

Sun TV Q1 results 

Sun TV reported a decline of 5.38 per cent in consolidated profit after tax (PAT) at ₹529.21 crore for the first quarter ended June 30, 2025. The company had reported a PAT of Rs 559.32 crore in the April-June period a year ago. 

 

Its revenue from operations was down 1.77 per cent to Rs 1,290.28 crore in the June quarter. This was at Rs 1,313.55 crore in the corresponding quarter last year. Sun TV Network's total expenses increased 10 per cent to Rs 782 crore in the June quarter of FY'26. 

 

Sun TV Network operates satellite television channels across seven languages -- Tamil, Telugu, Kannada, Malayalam, Bangla, Hindi and Marathi, and airs FM radio stations across India.