Yesterday it was Tulip Telecom. Today, it was the turn of Sun TV to crash 40 per cent in opening trade.
Mr Kalanithi Maran-controlled Sun TV and SpiceJet plummeted in early trade on Friday on media reports that the Central Bureau of Investigation is poised to file a charge-sheet against the former Telecom Minister, Mr Dayanidhi Maran, and his brother, Mr Kalanithi Maran, for allegedly receiving Rs 549 crore for their role in the acquisition of Aircel by the Malaysia-based firm Maxis.
The stock of Sun TV opened 40 per cent lower at Rs 176.75, but bounced back sharply to trade at Rs 251.4, still a fall of 14.7 per cent.
Meanwhile, the BSE Sensex was trading higher by 1.4 per cent at 16,871.
SpiceJet crashed over six per cent to trade at Rs 26.40 in the opening minutes.
According to reports, the CBI has almost zeroed-in on illegal gratification accepted by Mr Dayanidhi through Mr Kalanithi Maran in the garb of premium share investment in the family-controlled Sun Direct.
Mr Dayanadhi Maran does not own any stake in Sun TV or SpiceJet.
The counter registered a trading volume of nearly 35.50 lakh shares in about 25 minutes after trading commenced in the NSE.
Keywords: Sun TV, Sun TV stock, Sun TV shares, Dayanithi Maran, Kalanithi Maran, CBI probe against Marans, Marans and CBI, SpiceJet, Maxis, Sensex, Nifty, stocks, shares,
Comments:
It is not ever a question of corruption but one of proving it in court.
It is clear that the entire family of the DMK patriarch are corrupt to the core...or how does one explain thousands of crores of assets and yet other thousands of crores spent on elections amassed by a man who hardly had money for the next meal a few years ago without any technical or business expertise nor an investor base?
Really disgusting and to think the same media went ga-ga over Kalanithi
Maran as the best young entrepreneur. Shouldn't the media have verified
the financial antecedents of such companies, who thrive only at the
pleasure of their political masters... read MK family. I wonder from
where have the sons of Alagiri & Stalin got their seed capital from to
produce all big banner movies. More food for thought...... Happy hunting
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