India's Sun TV Network rises after withdrawal of legal notices to co's promoter

Sun TV Network

11/08/2025 08:33

** Shares of Sun TV Network SUTV.NS up 5.6% to 581 rupees

** Indian broadcaster says all legal notices issued to the promoter of the company have been withdrawn and the issues stand resolved

** In June, local news outlets had reported Indian lawmaker Dayanidhi Maran had sent legal notice to Kalanithi Maran, his brother and chairman of Sun TV, alleging irregularities tied to Kalanithi's ownership in the co

** Stock set to rise most in a session since March 19

** More than 675,000 shares traded, 2.8x its 30-day moving avg

** Avg rating of 12 analysts is "hold", median PT is 656.5 rupees, ~14% higher than current price - data compiled by LSEG

** YTD, SUTV down ~20%

(Reporting by Anuran Sadhu in Bengaluru)

((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))