- Sun TV Network shares dropped nearly 10% amid Tamil Nadu election trends
- Shares fell 9.45% intraday to Rs 548, trading 7.19% lower at 12:10 p.m
- Sun TV is owned by Kalanithi Maran, related to late DMK leader Karunanidhi
Shares of Sun TV Network have dropped nearly 10% today as Dravida Munnetra Kazhagam (DMK) trails in Tamil Nadu Assembly Elections as per initial trends shared by the Election Commission of India.
Sun TV shares fell 9.45% intraday to Rs 548 apiece. The scrip was trading 7.19% lower at 12:10 p.m. The benchmark NSE Nifty 50 was up 0.89%.
The network is owned by Kalanithi Maran, who is the grand nephew of the late DMK leader M Karunanidhi.
Counting is underway in Tamil Nadu with state politics witnessing a massive reset. Early trends on Monday morning suggest the state is on the brink of dismantling a political duopoly that has held firm for nearly six decades.
Actor-turned-politician Thalapathy Vijay's Tamizhaga Vettri Kazhagam (TVK) had pulled ahead, leading in 105 constituencies by 12:15 pm. The AIADMK is currently leading i1eats, while the incumbent DMK has slipped to a distant third, holding leads in just 57 seats.
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