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Sun TV Shares Slump 10% As AIADMK Set To Retain Tamil Nadu

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Sun TV shares slumped 10 per cent in trade today, as the AIADMK was set to retain power in Tamil Nadu.

 Sun TV Shares Slump 10% As AIADMK Set To Retain Tamil Nadu
Since the start of he week, the shares have rallied substantially, after exit poll results predicted a victory for opposition DMK in Tamil Nadu.
 

Sun TV is owned by Kalanithi Maran, the grandnephew of DMK President M Karunanidhi.

But, today's early trends put the AIADMK firmly in the drivers seat to retain power in Tamil Nadu.

However, most analyst believe that nothing would change fundamentally for the stock even if the AIADMK were to retain power in Tamil Nadu.

In fact, the results of Zee TV were spectacular raising hopes for solid earnings from SUN TV for the 4th quarter.

The shares of Sun TV were last trading at Rs 288, down 10 per cent over the previous close.

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