Sun TV Network, Raj TV shares surge up to 17%

NEW DELHI: Shares of Kalanithi Maran-led Sun TV Network advanced nearly 13 per cent on Monday amid reports of declining health of Tamil Nadu Chief Minister Jayalalithaa. Sun TV Networks is owned by Maran, who is the grand nephew of M Karunanidhi, who heads AIADMK's main rival DMK party.

Shares of the company ended 12.64 per cent higher at Rs 493.10. The scrip opened the day at Rs 452 and touched a high and low of Rs 497.80 and Rs 450, respectively. The Benchmark BSE Sensex rose 118.44 points to Rs 26,349.10.

For the quarter ended September 30, 2016, Sun TV reported a net profit of Rs 270.35 crore, which was 21.74 per cent higher from Rs 222.07 crore reported for the same quarter last year. Total revenue for the quarter rose 10.21 per cent to Rs 625.49 crore from Rs 567.55 crore reported for the same quarter last year.

Shares of Raj Television Network, one of the largest Tamil television and broadcasting companies in the southern region, advanced 17.45 per cent to Rs 69.65. The scrip hit a high of Rs 70.80 and a low of Rs 60.80 on Monday.

According to PTI, the Tamil Nadu chief minister suffered a cardiac arrest on Sunday at the Apollo hospital in Chennai where she was admitted over two months ago.