Sun TV share prices go down

Chennai: Sun TV Network’s stock prices
came down Monday morning as the Central Bureau of Investigation (CBI)
raided the residence and office of its promoter Kalanidhi Maran and his
younger brother, former union minister Dayanidhi Maran.

Sun TV owns a clutch of leading satellite channels in the four south Indian languages.

The
company’s share prices came down to Rs.244 Monday soon after the market
opened up from the previous closing price of Rs.262.90.

At the National Stock Exchange (NSE) the stock opened at Rs.254.40 and then the price started going down.

The
Maran brothers are under the CBI scanner following a complaint from
industrialist C. Sivasankaran that he was forced to exit mobile
telephony company Aircel by the former minister when he was heading the
telecom ministry to Maxis Group of Malaysia.

Sivasankaran had
alleged that Aircel was not given telecom licences and forced him to
sell his holdings to Maxis Group headed by T. Ananda Krishnan.

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