SUN TV Shares Drop 7% As License Worries Continue

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Shares in SUN TV dropped once again in trade after fresh reports emerged that the government may deny a license to the company to operate its channels.

SUN TV Shares Drop 7% As License Worries Continue
Sun TV Network: Quotes, News
BSE 809.25BSE Quote18.55 (2.29%)
NSE 808.00NSE Quote17.75 (2.20%)
The shares were last traded at Rs 298, falling as much as 7 per cent, after the 6 per cent drop witnessed on Tuesday.

The stock is now down as much as 13 per cent in two trading days. On Tuesday the Economic Times reported that the PMO' is not in favour of granting license, which saw a sharp fall of 6 per cent in the stock. The Information and Broadcasting Ministry on the other hand is in favour of renewing the license.

SUN TV Network is owned by Kalanidhi Maran and has presence across the television and radio industry across the country.

The company is amongst the top television players in the country.

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