Sun TV shining bright
Sun TV is the top gainer on the bourses right since the opening bell. Intra day, the stock spurted up almost 11% at Rs.435.55 and is now ruling 10% up at Rs.433 levels, holding on firmly to high levels. It is very close to its 52-week high of Rs.436.
Tamil Nadu concluded its elections yesterday and today, Exit Polls indicate that DMK could emerge victorious. Some exit polls predict a coalition between DMK and Congress in the state. But the consensus on all polls is that DMK will win with a thumping count.
How does this affect Sun TV? Well, Sun TV is owned by Kalanithi Maran, he has 75% stake. And he is the grand nephew of M.Karunanidhi, who heads Dravida Munnetra Kazhagam or DMK.
The election results in Tamil Nadu will be declared on 19th May.