Tuesday, 17 May 2016

Latest News: Sun TV Shares Surge On Hopes Of DMK Victory In Tamil Nadu


Sun TV shares jumped as much as 9.5 per cent on Tuesday after exit poll results predicted a victory for opposition DMK in Tamil Nadu. Chennai-based Sun TV is owned by Kalanithi Maran, the grandnephew of DMK President M Karunanidhi.

शेयर मार्केट में निवेश एवं मार्केट के उतार चढ़ाव की ताजा जानकारी के लिए हमारी वेबसाइट पर जाये और सही जानकारी और सुझाव पाए... www.marketmagnify.com/nifty-future-tips.php

According to NDTV's poll of exit polls, Chief Minister J Jayalalithaa is

down to 103 seats, while the DMK and Congress coalition is ahead at 120 seats in Tamil Nadu. The alliance is headed by M Karunanidhi, who is 93, and has said he plans to serve as Chief Minister.

Expectations of strong performance in the March quarter is also driving Sun TV, which is on track to notch its fifth straight gain today, analysts said.

"Zee Entertainment's Q4 is a precedent for Sun TV. Markets are pre-empting strong numbers, which has led to the up move in stock prices," said Mayuresh Joshi of Angel Broking.

Market expert Sarvendra Srivastava told NDTV Profit that Sun TV could hit levels of Rs 540 to Rs 560 if it breaks above the resistance zone of Rs 435 to Rs 437.

"Sun TV is shaping up very well, medium to long term setups are looking interesting," he said.

As of 09.41 a.m., Sun TV shares traded 9 per cent higher at Rs 429 on the National Stock Exchange. The stock outperformed the broader Nifty, which traded 0.6 per cent higher.

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