The stocks of Sun TV and Apollo Hospitals tumbled sharply today on news that the Central Bureau of Investigation is raiding the premises of Mr Dayanidhi Maran, former Telecom and Textiles Minister.
The agency conducted raids at the premises of Mr Dayanidhi Maran, and his brother and media baron, Mr Kalanithi Maran, after registering a case against them in connection with the controversial Aircel-Maxis deal.
The CBI also conducted raids at Apollo Group’s Ms Sunita Reddy’s residence.
The Sun TV stock tumbled close to seven per cent to trade at Rs 244.70 against the previous day's close of Rs 262.90. It, however, recovered from the day's low of Rs 221.20. Trading volumes zoomed to over 2 lakh shares against the two-week average of 1.98 lakh.
The stock of Apollo Hospital Enterprises slipped about 3 per cent to trade at Rs 494.65.
Similarly, the BSE-listed SpiceJet, which Sun group recently bought, also slipped about 2.35 per cent to Rs 20.75.