Latest news with #SunTVNetworkLimited
Business Upturn
a day ago
- Business
- Business Upturn
Why are Sun TV Network shares up 6% today? Explained
Sun TV Network Limited witnessed a sharp 6% jump in its share price following a significant development involving the promoter's family. As of 12:38 PM, the shares were trading 6.03% higher at Rs 582.75. The company announced that all legal notices issued by a family member to the promoter, his relative, and unrelated individuals have been unconditionally and irrevocably withdrawn. This update effectively resolves the personal legal dispute that had been making headlines recently. The company had earlier clarified that these legal matters were personal in nature and did not impact the business operations or day-to-day management of Sun TV Network. The recent withdrawal of the legal notices reassures investors and stakeholders, reflecting stability within the promoter's family and reaffirming that the company's core activities remain unaffected. With this issue now settled, Sun TV is expected to continue its steady business trajectory, maintaining confidence among shareholders and the market. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Business Upturn
a day ago
- Business
- Business Upturn
Sun TV Network clarifies withdrawal of legal notices involving promoter's family
By Aditya Bhagchandani Published on August 11, 2025, 12:56 IST Sun TV Network Limited witnessed a sharp 6% jump in its share price following a significant development involving the promoter's family. As of 12:38 PM, the shares were trading 6.03% higher at Rs 582.75. The company announced that all legal notices issued by a family member to the promoter, his relative, and unrelated individuals have been unconditionally and irrevocably withdrawn. This update effectively resolves the personal legal dispute that had been making headlines recently. In its latest filing to the stock exchanges, Sun TV stated that it has now been informed by the promoter about the withdrawal of all legal notices and confirmed that the issues stand resolved. The company reiterated that these matters were personal in nature and had no bearing on its business operations, management, or day-to-day functioning. Sun TV had initially disclosed the matter on June 20, 2025, clarifying that the allegations did not impact corporate affairs. The recent withdrawal reassures investors and stakeholders, reflecting stability within the promoter's family and reaffirming that the company's core activities remain unaffected. With this issue now settled, Sun TV is expected to continue its steady business trajectory, maintaining confidence among shareholders and the market. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Mint
30-07-2025
- Business
- Mint
IPL owners make forays in The Hundred; who bought stakes in which English teams? Check complete details
The Indian Premier League (IPL) franchise owners extended their horizon on Wednesday as four of them were announced as "strategic partners" by the England and Wales Cricket Board (ECB) for teams in 'The Hundred'. They will gain operational control by October 1 this year. The ECB in a release confirmed India's GMR, Sun TV Network Limited, RPSG Group, and Reliance Group as the strategic partners that will unlock "hundreds of millions of pounds for game-wide growth". While the RPSG Group (70% stake at Manchester Originals), Sun TV Network Limited (100% stake at Northern Superchargers) and GMR Group (49% stake at Southern Brave) have formally completed their respective deals, the deal with Reliance Group (49% stake at Oval Invincibles) will be done at a later date. The RPSG Group is the owner of Lucknow Super Giants franchise in IPL while Sun TV Network Limited and GMR Group own Sunrisers Hyderabad and Delhi Capitals (co-owner) respectively. Reliance Group owns five-time IPL champions Mumbai Indians. Notably, the owners of Mumbai Indians, Lucknow Super Giants and Sunrisers Hyderabad also own teams in South Africa's premier T20 competition SA20. "The England and Wales Cricket Board (ECB) today confirmed a landmark achievement in the evolution of The Hundred, with deals now complete with the first six strategic partners for The Hundred teams," the ECB said in a statement. The ECB also made it clear that a new board will be established including the representatives from the English board and the teams including both investors and host clubs. This board will have "delegated authority over certain defined matters relating to the strategic direction and commercial growth." London Spirit – Tech Titans (49%) Birmingham Phoenix – Knighthead Capital Management, LLC, on behalf of its investors ('Knighthead') (49%) Manchester Originals – RPSG Group (70%) Northern Superchargers – Sun TV Network Limited (100%) Southern Brave – GMR Group (49%) Welsh Fire – Washington Freedom (50%) Oval Invincibles – Reliance Group (49%) - to be completed later Trent Rockets – Cain International & Ares Management (49%) - to be completed later
Business Insider
14-07-2025
- Business
- Business Insider
Sun TV Network Limited (SUNTV) Gets a Hold from UBS
UBS analyst Aditya Chandrasekar maintained a Hold rating on Sun TV Network Limited today and set a price target of INR635.00. The company's shares closed last Friday at INR566.45. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Chandrasekar covers the Real Estate sector, focusing on stocks such as Prestige Estates Projects Limited, DLF Limited, and Oberoi Realty Limited. According to TipRanks, Chandrasekar has an average return of 26.6% and a 100.00% success rate on recommended stocks. Currently, the analyst consensus on Sun TV Network Limited is a Hold with an average price target of INR690.00.
Indian Express
20-06-2025
- Business
- Indian Express
Inside the Maran family feud: Will the fight over Sun TV empire singe DMK?
One of Tamil Nadu's most powerful political and business dynasties, the Maran family is now at the centre of a rare, public rupture that threatens not only its reputation but also the image of the DMK, the party it has long been tethered to. At the heart of the rift is a legal notice that DMK MP and former Union Minister Dayanidhi Maran has issued to his elder brother and media baron Kalanithi, accusing him of fraudulent share allotments and corporate misgovernance in their flagship company Sun TV Network Limited. Sun TV Friday responded to media reports stemming from the notice. In a filing to the stock exchanges under SEBI Regulation 30, the company stated, 'The alleged matter dates back to 22 years, when the company was a closely held private limited Company. The statements allegedly made in the articles are incorrect, misleading, speculative, defamatory and not supported by facts or law. We wish to inform you that all acts have been done in accordance with legal obligations and the same had been duly vetted by concerned intermediaries before the public issue of the Company.' The company said the dispute 'does not have any bearing on the business of the Company or its day-to-day functioning' and emphasised it was a personal matter between members of the promoter family. Still, the damage may already be done. A senior DMK functionary called the dispute 'deeply embarrassing not only for the Marans, but for the party as well'. According to top party sources, DMK president and Tamil Nadu Chief Minister M K Stalin attempted to mediate between the Maran brothers on at least two occasions in the past three months. 'Even their sister Anbukkarasi was ready for a compromise as Stalin suggested. Kalanithi was also open. But Dayanidhi refused to listen. He took the legal route, ignoring the larger political consequences. When brothers fight over thousands of crores, people will begin asking how they made this much money, eventually putting DMK at the receiving end,' said a DMK source. The roots of the family's influence lie in the life and career of Murasoli Maran (1934-2003), the trusted nephew of DMK patriarch M Karunanidhi. Maran was a key architect of the DMK's outreach to the national political stage, serving as its voice in New Delhi for decades. Fluent in both Tamil and English, he was widely respected as the party's strategist and troubleshooter in coalition-era politics. From his early days of helping Karunanidhi in film productions, writing, and as the editor of Murasoli, the party's Tamil daily, to his later role as Union Minister in multiple Central governments, Maran left an imprint that extended far beyond Tamil Nadu. He served as the Minister for Commerce and Industry from 1999 to 2003 in Atal Bihari Vajpayee's NDA government. He was also known for his accessibility, and for those who could not directly reach Karunanidhi, he was the gateway. Kalanithi, his elder son, began with a small video business called Poomalai, producing and selling private programs on VHS cassettes. In 1993, he launched Sun TV, which initially broadcast from Singapore. The timing was impeccable as, at the time, India was transitioning from the Doordarshan monopoly to the cable revolution. Sun TV quickly became synonymous with Tamil entertainment, and 'taking a Sun TV connection' became a household phrase. With the backing of the DMK and a knack for market instincts, Kalanithi built the Sun Group into one of India's largest regional media empires, spanning television, radio, print, sports, cinema, and aviation. His Sumangali Cable Vision (SCV) network also drew attention when the Karunanidhi regime introduced free colour televisions, a move seen by critics as beneficial to the company. Yet, Kalanithi's political neutrality served him well. 'He maintained a corporate image and stayed away from party politics, even though Sun News editorially leans toward Dravidian ideology,' said a media industry insider. That approach helped him avoid regulatory entanglements and expand operations across southern India. In contrast, Dayanidhi entered politics through his father's legacy. Educated at Loyola College, he was seen as a modern, business-savvy face in the DMK. As Telecom Minister (2004–2007), he pushed for lower call rates and foreign investments. But his tenure was later mired in allegations: first in the 2G spectrum case, then the Aircel-Maxis deal, and finally the telephone exchange scandal. Though acquitted in several instances, his political capital steadily declined. In 2007, the Marans' newspaper Dinakaran published a survey asking readers who should succeed Karunanidhi. Stalin topped the poll, Dayanidhi came second, and M K Alagiri, Stalin's elder brother, came third. Furious at the result, Alagiri's supporters attacked the Dinakaran office in Madurai. Three employees of the newspaper died in the violence, marking one of the lowest points in the DMK's history. Karunanidhi was in the Assembly when he was informed of the attack, with a state intelligence officer passing on the message in a half-page handwritten note in Tamil. The CM reportedly began correcting spelling mistakes in the note, with the reaction read by many as his cold detachment. With Kalanithi backing Dayanidhi, who was widely blamed for the poll, the incident created a long rift between the Maran brothers and DMK's first family. The legal notice by Dayanidhi alleges Kalanithi allotted himself 12 lakh equity shares in Sun TV in 2003 at a face value of Rs 10 each, without proper approval and at a time when their father was in a coma. The move, the DMK MP alleges, gave Kalanithi a 60% stake and reduced the holdings of the Maran and Karunanidhi families from 50% each to 20%. 'Karunanidhi would have settled this. Stalin isn't that type,' said a DMK minister. The notice also claims that the shares, worth over Rs 3,500 crore at fair market value, were acquired for just Rs 1.2 crore, and Kalanithi later misused company resources to enrich himself. It lists possible violations under corporate law, the Indian Penal Code, and the Prevention of Money Laundering Act. Sun TV pushed back firmly Friday, calling the accusations 'defamatory' and stating that 'all acts have been done in accordance with legal obligations … duly vetted before the public issue of the company'. DMK insiders see Dayanidhi's move as a political gamble with little upside. 'He is isolated now. Udhayanidhi Stalin (the CM's son) is his only link to the leadership now. And even that window may be closing soon,' said a party insider.
