Comments
Amid confusion over the security clearance for its 33 channels by the Centre, Hermes Emerging Asia Equity Fund on Wednesday sold 29.29 lakh shares of Sun TV Network.
According to bulk deal data on the NSE, the shares were offloaded at an average price of ₹296.31 a share. However, the buyer’s name is not known.
At the end of March, Hermes Investments Funds Plc on behalf of Hermes Emerging Asia Equity Fund held 56.74 lakh shares, or 1.44 per cent, stake in the Kalanithi Maran-promoted firm.
The stock has been under pressure in the last few days on worries over the government’s unwillingness to grant security clearance to its 33 channels.
PMO’s stanceMedia reports have it that the PMO has found more merit in the Home Ministry’s objection to the broadcaster’s security clearance citing impending cases. But, Attorney General Mukul Rohatgi had supported grant of security clearance.
Other big investors in the broadcasting major include DVI Fund Mauritius Ltd (2.63 per cent), Government Pension Fund Global (1.63 per cent), Route One Fund I LP (1.37 per cent) and Route One Offshore Master Fund LP (1.34 per cent).
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.