Sun TV surges owing to exit poll results

The fact that the election results and the markets have a direct relation is yet again proven. According to the exit poll conducted by NDTV, it is most likely that the DMK  will win the state elections. The exit poll trend has triggered the Sun TV shares upward momentum by 10 per cent.

Chennai based Sun TV is owned by Kalanithi Maran, the grand-nephew of DMK president M Karunanidhi. The stocks have majorly reacted to the exit poll results.

According to various 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.

The street is also expecting strong Q4 numbers, and these sentiments of  positive results have also boosted the shares on an intra-day basis. Revenue for the channel comes majorly from South India, both in terms of advertisement revenue, market share and subscription.

Sun TV Network Limited, is an Indian television network that provides 20 TV channels and 45 FM Radio stations in several Indian languages in infotainment, covering movies, entertainment, music, documentary and news.

The shares Tuesday have opened positive and are trading at Rs 431.90, up by 10 per cent.