14 May 07 Sun TV Plunges as Dayanidhi Maran Resigns
Sun TV today plunged by over 7% and fell below the Rs.1500 mark, as one of India’s most powerful media empire looks all set to take on South India’s most powerful Political empire. The bussiness community all over the nation is shocked by the sacking of a young, energetic, technologically saavy and pro reforms union minister. The head on battle between the Maran family and the Karunanidhi family is likely to be a lose-lose situation for both the families. SUN TV had achieved tremendous growth with the help of DMK’s political influence. In turn the DMK party benefitted from SUN TV’s media reach. SUN TV’s shares are currently trading 1:1 cum bonus and also 2:1 cum stock split.
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