close
This ad will auto close in 10 seconds


Shares of Sun TV Network, SpiceJet plunge by up to 11%

Last Updated: Friday, July 27, 2012 - 17:09

Mumbai: Shares of Sun TV Network and SpiceJet have plunged by up to 11 percent on the bourses Friday on reports that CBI is poised to file a charge-sheet against the Maran brothers over allegations of kickbacks in the controversial Aircel-Maxis deal.

The scrip of Sun TV crashed by 40 percent in the intra-day's trade to touch its 52-week low at Rs 176.75 on the BSE. Although, it recovered some lost ground and finally settled at Rs 261.65, down 11.17 per cent from the previous close.

On the National Stock Exchange, the stock tanked 11.46 percent to close at Rs 262.

SpiceJet, too, slipped 10.64 percent to close at Rs 25.20 on the BSE. During the trading session, the stock had touched a low of Rs 24.50 and a high of Rs 29.

The sharp fall in the share prices were in contrast with overall strength in the broader market. The BSE's benchmark Sensex rose 199.37 points, or 1.20 percent, to close at 16,839.19 points.

Former telecom minister Dayanidhi Maran, whose brother Kalanithi controls Sun TV, was believed to have been questioned by the CBI in connection with the allegations that he had received Rs 547 crore as kickbacks from a Malaysian company in the controversial Aircel-Maxis deal.

According to media reports, CBI is poised to file a charge-sheet against the Maran brothers over allegations of kickbacks.

PTI

First Published: Friday, July 27, 2012 - 17:07
comments powered by Disqus