Sun TV Share Price Gains 5% as Family Dispute Ends with Withdrawal of Legal Notices

Market Performance

Sun TV share price witnessed a sharp rise on August 11, climbing nearly 5% in intraday trade.

At 12:55 pm, the stock was trading at ₹577.5 per share on the NSE, reflecting strong market sentiment after a positive company update.

Main News

Sun TV Network Ltd announced that all legal notices issued by a family member to its promoter, his relatives, and other unrelated individuals have been "unconditionally and irrevocably withdrawn".

The company, in a stock exchange filing, clarified that the issue, first mentioned in its June 20, 2025 letter, was purely personal and did not influence its business operations or routine activities.

The withdrawal of the notices brings an end to the dispute, which had earlier attracted public and media attention.

Company Details

• Company Name: Sun TV Network Limited
• Sector: Media & Entertainment
• Listed On: NSE & BSE
• Share Price Movement (Aug 11):
  • Opening: ₹550.0 (approx.)
  • Intraday High: ₹577.5 (+5%)
  • Change: +₹27.5

Background of the Dispute

Earlier this year, DMK MP Dayanidhi Maran sent a legal notice to his elder brother Kalanithi Maran, his sister-in-law, and six others.

The dispute was related to share transactions from 2003, wherein Kalanithi Maran allegedly allotted 60% of Sun TV shares to himself without approval from majority shareholders.

Sun TV had clarified on June 20, 2025, that:

• The incident occurred 22 years ago when the company was privately held.
• All actions were taken in compliance with legal requirements.
• Transactions were vetted by intermediaries before the company's public listing.

Summary

The Sun TV share price surged 5% after the resolution of a long-standing family dispute, as all related legal notices were withdrawn.

The company reiterated that the matter was purely personal and had no connection to its business operations or management.