Sun TV shares plunge 10%; m-cap dips Rs 1,688 crore

Mumbai: Shares of Sun TV fell by 10 percent after the Enforcement Directorate attached assets worth Rs 742.58 crore in the name of former Telecom Minister Dayanidhi Maran, his brother Kalanithi and other family members in connection with money laundering probe in Aircel-Maxis deal.

After falling 11.36 percent to Rs 402.25 in intra-day trade at BSE, shares of Sun TV finally ended at Rs 411, down 9.44 percent from previous close.

At the NSE, the stock plunged 10 percent to end at Rs 410.40.

Following the sharp fall in the stock, the company's market value dipped Rs 1,688.12 crore to Rs 16,196.88 crore.

The ED on Wednesday last week attached Rs 742.58 crore assets of Marans in connection with its money laundering probe in the Aircel-Maxis deal.

Stock markets were closed on Thursday and Friday for holidays.

Amongst the assets attached are a huge amount of fixed deposits (FDs) and mutual funds held largely by his brother and Sun TV MD Kalanithi. Some assets of Kalanithi's wife Kaveri have also been attached.

ED registered its criminal case in this deal in 2012 taking cognisance of an earlier CBI FIR.