 "Sun TV's share price touches all time high in October as company plans to buy back shares")
Media tycoon Kalanithi Maran controlled Sun TV Network Ltd (Sun TV) share price touched all time high, in October, of Rs 411.3 a share. The stock price rose after company announced that it plans for buy back of shares.
The company today informed has informed Bombay Stock Exchange that a meeting of the Board of Directors of the Company will be held on November 5, 2015, inter alia, to consider and if thought fit to approve a proposal to buy-back the fully paid-up Equity Shares of the company.
The company officials were not available for a comment. Calls made to Sun Group's CFO S L Narayanan was not responded.
The share prices, which was at Rs 377 per share during the opening of the day, went up to Rs 411.3 after the announcement, which is the highest in the month, and ended at Rs 395.7 by the time of market closing.
It may be noted that the promoter and promoter group holds around 75% of the equity share in the company.
