Sun TV stock falls on fears of DMK losing to AIADMK

CHENNAI: As fears mounted that the DMK might not be able to take the lead over the AIADMK in Tamil Nadu as counting of votes continued on Thursday, stock of Sun TV fell more than 7% to Rs 396.95 at 9.20am on the BSE.
On the NSE, Sun TV stock fell 6.3% to Rs 401.45. Sun TV stock opened marginally higher on the bourses, but fell within quarter of an hour.Sun TV is owned by DMK chief M Karunanidhi’s nephews, the Maran brothers.
Raj Television Network Ltd, a rival television network based in Tamil Nadu that is unconnected with the leading Dravidian parties, saw its stock shoot up 17% to Rs 71.80 at 9.20 on the BSE.
On the NSE, Raj TV stock rose more than 18% to Rs 71.60.