Media conglomerate Sun TV Networks fell by 30 per cent and low-cost air carrier SpiceJet by 12 per cent in early trade on the bourses today after Dayanidhi Maran — the brother of the owner of both companies — was named in a public lawsuit over the 2G spectrum scam.
Sun TV’s scrip opened on a weak note on the Bombay Stock Exchange and fell 29.78 per cent to a low of Rs 265 amid reports that Maran family-owned Sun TV Network was a beneficiary of pay offs by an overseas telecom firm.
SpiceJet, which is owned and run by Mr Kalanithi Maran, brother of DMK leader and Union Minister Mr Dayanidhi Maran, suffered a similar fate. After opening at Rs 40.45, SpiceJet dropped 12.16 per cent to a low of Rs 36.10.
Marketmen attributed the steep fall in both counters to news reports of a Public Interest Litigation filed against Mr Dayanidhi Maran for his alleged role in the telecom scam.
Both the counters later regained some of the lost ground.
Sun TV was were trading at Rs 300.90, down 20.27 per cent, and SpiceJet at Rs 36.90, down 10.22 per cent, on BSE at 10.56 am.
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