Mumbai: Shares of SpiceJet and Sun TV Network fell on market talk that Sun founder Kalanithi Maran’s deal of buying a stake in SpiceJet was under investigation by the Central Bureau of Investigation (CBI), four dealers said.
The CBI investigating the telecom scam has arrested former telecom minister A Raja from the DMK party headed by Karunanidhi, who is Maran’s relative.
When contacted by Reuters, a CBI official chose not to talk about the SpiceJet transaction, but said the telecoms graft investigations are “leading in all directions.”
A SpiceJet spokeswoman declined comment. Shares of both the companies had fallen 7-13% on Friday.
At 12:40pm, SpiceJet was down 2.77%, off a 52-week low of Rs 42.65 and Sun TV lost 8.04%.