 "Sun TV Network plunges 10% on heavy volumes")
Share price of Sun TV Network has plunged 10% to Rs 416 on back of heavy volumes on the bourses. The stock opened at Rs 453 on the National Stock Exchange and has seen over two-fold jump in trading volumes.
A combined 679,000 shares have already changed hands on the counter in first half-an-hour of trading compared to sub 300,000 shares that were traded daily in past two weeks on NSE and BSE.
According to media reports, Attorney-General (AG) Mukul Rohatgi has said in an opinion sent to the Central Bureau of Investigation (CBI) that the investigating agency has enough evidence to proceed against Dravida Munnettra Kazhagam (DMK) leader and former Union minister Dayanidhi Maran and his brother Kalanithi Maran, in the controversy around the Aircel-Maxis deal.
CBI’s first information report (FIR) in the case, registered in October 2011, is believed to have alleged that the then telecom minister Dayanidhi Maran forced C Sivasankaran, the founder of Aircel, to sell his entire stake in the telecom company to T Ananda Krishnan, owner of Malaysian telecom firm Maxis. In return,Maxis invested Rs 650 crore in Sun TV, a company promoted by Kalanithi Maran.
Kalanithi Maran held 75% stake in Sun TV Network as of quarter ended June 2014, according to data from the BSE.
A combined 679,000 shares have already changed hands on the counter in first half-an-hour of trading compared to sub 300,000 shares that were traded daily in past two weeks on NSE and BSE.
According to media reports, Attorney-General (AG) Mukul Rohatgi has said in an opinion sent to the Central Bureau of Investigation (CBI) that the investigating agency has enough evidence to proceed against Dravida Munnettra Kazhagam (DMK) leader and former Union minister Dayanidhi Maran and his brother Kalanithi Maran, in the controversy around the Aircel-Maxis deal.
CBI’s first information report (FIR) in the case, registered in October 2011, is believed to have alleged that the then telecom minister Dayanidhi Maran forced C Sivasankaran, the founder of Aircel, to sell his entire stake in the telecom company to T Ananda Krishnan, owner of Malaysian telecom firm Maxis. In return,Maxis invested Rs 650 crore in Sun TV, a company promoted by Kalanithi Maran.
Kalanithi Maran held 75% stake in Sun TV Network as of quarter ended June 2014, according to data from the BSE.