Sun TV shares dip as Maran faces CBI probe

Shares of Maran family-controlled Sun TV dropped 7% on Thursday, a day after the Central Bureau of Investigation told the Supreme Court that it would take a decision on bringing formal charges against chairman Kalanithi Maran's younger brother, Dayanidhi.

Shares of Maran family-controlled Sun TV dropped 7% on Thursday, a day after the Central Bureau of Investigation told the Supreme Court that it would take a decision on bringing formal charges against chairman Kalanithi Maran's younger brother, Dayanidhi.

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The cable television distribution war, which already has been taking a toll on Sun TV's channel share, saw the listed firm's stock price touch an intra-day low of Rs 237.8, before finally closing at Rs 244.4.

Sun TV shares fell about 14.5% in the last month. Its shares have dipped around 22-25% over the last 12-weeks.