Impact of Political Change… Sun TV Shares Decline

Shares of Sun TV Network witnessed a sharp decline following the unexpected surge of actor Vijay’s TVK party in the Tamil Nadu Assembly Elections. The poor performance of the ruling Dravida Munnetra Kazhagam (DMK) further impacted investor sentiment. At one point, Sun TV shares fell by 9.5% on the BSE, hitting a low of ₹547.55, and were trading at ₹566.40, down 6.43% around 12:45 PM.

Tamil Nadu politics, traditionally dominated by DMK and All India Anna Dravida Munnetra Kazhagam (AIADMK), saw a dramatic shift this time, with Vijay’s party leading in over 100 seats. AIADMK stood second, while DMK slipped to third place. The decline in Sun TV shares is also linked to its owner Kalanithi Maran, who is closely related to M. K. Stalin. Meanwhile, domestic markets turned volatile, with the BSE Sensex losing nearly 700 points after early gains, trading at 77,232 with a 319-point gain at 12:50 PM, while the NIFTY 50 was up 96 points at 24,094.