A file photo of Kalanithi Maran. Photo: Mint
A file photo of Kalanithi Maran. Photo: Mint

Sun TV shares fall after home ministry denies security clearance

Shares of Sun TV Network fell as much as 5.52% in intra-day trade, after Union home ministry's Saturday decision not to give security clearance to the company

Mumbai: Sun TV Network Ltd fell as much as 5.52% in intra-day trade on Monday, after Union home ministry’s Saturday decision not to give security clearance to the Kalanithi Maran-owned Sun Television Network. The ministry said the television network’s owners had violated many rules.

The stock has been falling for six consecutive days.

Shares of Sun TV Network closed at 280.05 on the BSE, down 3.45% from its previous close, while India’s equity benchmark Sensex was 0.60% lower at 27,645.15 points.

From the beginning of the year, Sun TV has lost 27.89%, while the Sensex has lost 0.73%.

The scrip has fallen over 29% (intra-day) since 8 June after the news about the security clearance was first aired. The stock had fallen 22% on 8 June.

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