Sun TV shares tumble over rift between Maran brothers
Shares of Sun TV Network tumbled over 5 per cent in intra-day trade on Friday before recovering most of the lost ground to end 1 per cent lower amid concerns over a rift between brothers Dayanidhi and Kalanithi Maran.
According to reports, Dayanidhi has sent a legal notice to his brother and several others, accusing them of “fraudulent practices” and “misgovernance” in taking control of Sun TV after their father Murasoli Maran’s death in 2003.
The stock of Sun TV dropped 5.20 per cent to Rs 581.55 during the day on the BSE. Later, it ended at Rs 606.80, down 1.09 per cent.
