Sun TV hits a new high

The top gainer on the BSE since morning has most obviously been Sun TV. The scrip has zoomed up 25% to Rs.699, just Re.1 short of Rs.700 but nevertheless a new 52-week high.

The huge dark cloud which was looming large on the head of Sun TV is finally gone and there seems to be just bright sunlight. The euphoria on the counter is because Dayanidhi Maran and his brother, Kalanithi Maran and wife Kaveri Kalanithi have been acquitted of all charges of bribery and money laundering in the Aircel-Maxis deal.

This is a huge relief for all those holding the stock and there was always the niggling uncertainty on account of this ongoing investigation.