Latest News
-
Rs 44,000 Crore M-Cap Lost, Stock Falls 10%, No More 4th Largest Bank; How RBI's Ban Rocked Kotak -
Mukesh Ambani Led JioCinema Slashes Premium Subscription Prices; IPL Live Stream Remains Free -
Strong Listing: Vodafone Idea FPO Soars In Debut, Shares Rebound; KM Birla Lauds Success -
JPMorgan CEO Jamie Dimon Hails PM Modi's Economic Reforms, Urges US to Follow Suit; Details -
Rs. 60/Share Dividend: Record Date On 28 June; Buy The Bajaj Group Stock For 600% Payout? -
Intraday Trade Call: Day Trading Stock Picks By Chandan Taparia Of Motilal Oswal On Thurday, 25 April -
Trade Setup: Nifty Continues Winning Streak Ahead of April F&O Expiry, Q4 Earnings In Focus -
Rs 10/Share Dividend: Record Date In Due Course; Buy The Banking Stock To Be Eligible? -
Stock Market Live Updates: Indian Market Stable In Green; Sensex Trades At 74,095 Levels, Nifty Up 0.28% -
Tech Mahindra Q4 Results Preview: Revenue May Fall, But Margins Seen To Expand; To Announce Dividend
For Daily Alerts
Sun TV buys Deccan Chargers; shares drop
Shares of the Sun TV Network reacted after the company won the Hyderabad franchise of the Indian Premier League as markets were unimpressed with the buyout.
The shares of the company dropped 4% to Rs 342 on BSE at 2.20 pm IST. It touched an intra-day low of Rs 339.
Sun TV will have to pay Rs 85.05 crore per year to the Board of Control for Cricket in India (BCCI) for the Hyderabad IPL franchise.
"This Franchise fee represents a premium of over a 100 % above the amount paid by DCHL for the Hyderabad Franchise in 2008", the BCCI said in a media release.
The SUN TV Network bid was considerably higher than the second bid of PVP Ventures, which was 69.03 crores.
While, the shares of the PVP Ventures surged 5% even though it lost the bid.
GoodReturns.in
More From GoodReturns
