ITV

Tag: Sun TV Network

  • FY-16: Sun TV revenue up 7.3 percent, PAT up 16.8 percent

    FY-16: Sun TV revenue up 7.3 percent, PAT up 16.8 percent

    BENGALURU: Sun TV Network Limited (Sun TV) reported 7.3 per cent growth in consolidated Total Income from Operations (TIO) and 16.8 percent growth in profit after tax (PAT) for the period ended 31 March 2016 (FY-16, current year) as compared to fiscal FY-15. TIO in FY-16 was Rs 2,569.79 crore as compared to Rs 2,395.38 crore in FY-15. The company’s PAT in the current year was Rs 913.38 crore (35.5 percent PAT margin) in FY-16 and was Rs 782.04 crore (32.6 percent PAT margin) in the previous year.

    Note: The unit of currency in this report is the Indian rupee – Rs (also conventionally represented by INR).The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:
    (a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.
    (b) 10,000 lakh = 100 crore = 1 arab = 1 billion.

    Sun TV consolidated EBIDTA in the current year was Rs 1,774.19 crore (69 percent EBIDTA margin) 5.8 percent higher as compared to Rs 1677.03 crore (70 percent EBIDTA margin) in FY-15.

    Consolidated Total Expenditure (TE) in the current year declined 2.5 percent to Rs 1,300.53 crore (50.6 percent of TIO) as compared to Rs 1,333.45 crore in the previous year.

    Employee Benefits Expense (EBE) in FY-16 increased 15.5 percent to Rs 271.63 crore (10.6 percent of TIO) as compared to Rs 235.08 crore (9.8 percent of TIO) in FY-15.

    Other expenses (OE) in the FY-16 was 13.6 percent higher in FY-16 at Rs 222.07 crore (8.6 percent of TIO) as compared to Rs 195.56 crore (8.2 percent of TIO) in the previous year.

    Standalone quarterly numbers

    For the quarter ended 31 March 2016 (Q4-16, current quarter) Sun TV standalone TIO increased 4 percent year-over-year (y-o-y) to Rs 570.68 crore from Rs 548.58 crore, but declined 0.6 percent quarter-over-quarter (q-o-q) from Rs 574.12 crore.

    Standalone PAT in Q4-16 increased 16.3 percent y-o-y to Rs 236 crore (41.4 percent PAT margin) as compared to Rs 548.48 crore (37 percent PAT margin) and increased 9.5 percent q-o-q from Rs 215.59 crore (37.6 percent PAT margin)

    Standalone EBIDTA in the current quarter increased 0.8 percent y-o-y to Rs 426.58 crore (74.7 percent EBIDTA margin) from Rs 423.26 crore (77.2 percent EBIDTA margin), but declined 3.1 percent q-o-q from Rs 440.44 crore.

    Standalone TE in Q4-16 declined 7.2 percent y-o-y to Rs 244.76 crore (42.9 percent of TIO) from Rs 263.74 crore (48.1 percent of TIO) and declined 8.8 percent q-o-q from Rs 268.43 crore (46.8 percent of TIO).

    Standalone EBE in the current quarter increased 20.8 percent y-o-y to Rs 63.02 crore (11 percent of TIO) from Rs 52.16 crore (9.5 percent of TIO) and increased 7.3 percent q-o-q from Rs 58.73 crore (10.2 percent of TIO)

    Standalone OE in Q4-16 increased 23 percent y-o-y to Rs 34.77 crore (6.1 percent of TIO) from Rs 28.26 crore (5.2 percent of TIO) but declined 1.1 percent q-o-q from Rs 35.16 crore (6.1 percent of TIO).

    Sun TV has paid franchisee fees for its IPL team SunRisers Hyderabad (SRH) of Rs 85.05 crore in FY-15 and FY-16.

  • FY-16: Sun TV revenue up 7.3 percent, PAT up 16.8 percent

    FY-16: Sun TV revenue up 7.3 percent, PAT up 16.8 percent

    BENGALURU: Sun TV Network Limited (Sun TV) reported 7.3 per cent growth in consolidated Total Income from Operations (TIO) and 16.8 percent growth in profit after tax (PAT) for the period ended 31 March 2016 (FY-16, current year) as compared to fiscal FY-15. TIO in FY-16 was Rs 2,569.79 crore as compared to Rs 2,395.38 crore in FY-15. The company’s PAT in the current year was Rs 913.38 crore (35.5 percent PAT margin) in FY-16 and was Rs 782.04 crore (32.6 percent PAT margin) in the previous year.

    Note: The unit of currency in this report is the Indian rupee – Rs (also conventionally represented by INR).The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:
    (a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.
    (b) 10,000 lakh = 100 crore = 1 arab = 1 billion.

    Sun TV consolidated EBIDTA in the current year was Rs 1,774.19 crore (69 percent EBIDTA margin) 5.8 percent higher as compared to Rs 1677.03 crore (70 percent EBIDTA margin) in FY-15.

    Consolidated Total Expenditure (TE) in the current year declined 2.5 percent to Rs 1,300.53 crore (50.6 percent of TIO) as compared to Rs 1,333.45 crore in the previous year.

    Employee Benefits Expense (EBE) in FY-16 increased 15.5 percent to Rs 271.63 crore (10.6 percent of TIO) as compared to Rs 235.08 crore (9.8 percent of TIO) in FY-15.

    Other expenses (OE) in the FY-16 was 13.6 percent higher in FY-16 at Rs 222.07 crore (8.6 percent of TIO) as compared to Rs 195.56 crore (8.2 percent of TIO) in the previous year.

    Standalone quarterly numbers

    For the quarter ended 31 March 2016 (Q4-16, current quarter) Sun TV standalone TIO increased 4 percent year-over-year (y-o-y) to Rs 570.68 crore from Rs 548.58 crore, but declined 0.6 percent quarter-over-quarter (q-o-q) from Rs 574.12 crore.

    Standalone PAT in Q4-16 increased 16.3 percent y-o-y to Rs 236 crore (41.4 percent PAT margin) as compared to Rs 548.48 crore (37 percent PAT margin) and increased 9.5 percent q-o-q from Rs 215.59 crore (37.6 percent PAT margin)

    Standalone EBIDTA in the current quarter increased 0.8 percent y-o-y to Rs 426.58 crore (74.7 percent EBIDTA margin) from Rs 423.26 crore (77.2 percent EBIDTA margin), but declined 3.1 percent q-o-q from Rs 440.44 crore.

    Standalone TE in Q4-16 declined 7.2 percent y-o-y to Rs 244.76 crore (42.9 percent of TIO) from Rs 263.74 crore (48.1 percent of TIO) and declined 8.8 percent q-o-q from Rs 268.43 crore (46.8 percent of TIO).

    Standalone EBE in the current quarter increased 20.8 percent y-o-y to Rs 63.02 crore (11 percent of TIO) from Rs 52.16 crore (9.5 percent of TIO) and increased 7.3 percent q-o-q from Rs 58.73 crore (10.2 percent of TIO)

    Standalone OE in Q4-16 increased 23 percent y-o-y to Rs 34.77 crore (6.1 percent of TIO) from Rs 28.26 crore (5.2 percent of TIO) but declined 1.1 percent q-o-q from Rs 35.16 crore (6.1 percent of TIO).

    Sun TV has paid franchisee fees for its IPL team SunRisers Hyderabad (SRH) of Rs 85.05 crore in FY-15 and FY-16.

  • Zee TV topples Colors to take 3rd place; Sun TV retains top spot across genres

    Zee TV topples Colors to take 3rd place; Sun TV retains top spot across genres

    MUMBAI: Sun TV Network’s Tamil general entertainment channel Sun TV continues to dominate the charts across genres, while Zee’s Hindi general entertainment channel Zee TV toppled Colors to claim its stake on the third slot in week 6 of Broadcast Audience Research Council (BARC) all India data.

    Sun TV retained its leadership position with an increase in ratings of 1020881 (‘000s) as against 992291 (‘000s) in week 5. On the other hand, Star Plus in the second place saw a fall in ratings but managed to hold its spot with 760263 (‘000s) as against 760263 (‘000s) in the previous week.

    Zee TV climbed up to the three rung from its fourth position in week 6 with  733137 (‘000s), pushing Colors down to the number four with 729531 (‘000s).

    Zee Anmol secured the fifth slot with 671397 (‘000s) followed by Sony Max on the sixth berth with 454190 (‘000s), while Life OK with 451859 (‘000s) stood at number seven.

    ETV Telugu with with 442609 (‘000s), Star Ustav with 440054 (‘000s) and Zee Cinema with 411409 (‘000) garnered eighth, ninth and tenth slots respectively.

  • Zee TV topples Colors to take 3rd place; Sun TV retains top spot across genres

    Zee TV topples Colors to take 3rd place; Sun TV retains top spot across genres

    MUMBAI: Sun TV Network’s Tamil general entertainment channel Sun TV continues to dominate the charts across genres, while Zee’s Hindi general entertainment channel Zee TV toppled Colors to claim its stake on the third slot in week 6 of Broadcast Audience Research Council (BARC) all India data.

    Sun TV retained its leadership position with an increase in ratings of 1020881 (‘000s) as against 992291 (‘000s) in week 5. On the other hand, Star Plus in the second place saw a fall in ratings but managed to hold its spot with 760263 (‘000s) as against 760263 (‘000s) in the previous week.

    Zee TV climbed up to the three rung from its fourth position in week 6 with  733137 (‘000s), pushing Colors down to the number four with 729531 (‘000s).

    Zee Anmol secured the fifth slot with 671397 (‘000s) followed by Sony Max on the sixth berth with 454190 (‘000s), while Life OK with 451859 (‘000s) stood at number seven.

    ETV Telugu with with 442609 (‘000s), Star Ustav with 440054 (‘000s) and Zee Cinema with 411409 (‘000) garnered eighth, ninth and tenth slots respectively.

  • Adcap violations cases against 15 TV channels put off to April

    Adcap violations cases against 15 TV channels put off to April

    NEW DELHI: Complaints against various television channels before Chief Metropolitan Magistrate relating to adcap violations by the Telecom Regulatory Authority of India (TRAI) are now slated to come up for hearing on 2 April.

    CMM (Delhi Central) Pooran Chand directed that as the matter was pending in the Delhi High Court, the interim orders would continue.

    TRAI had filed complaints before the Magistrate’s Court against IBN Lokmat News, Zee News, TV Today Network, Sun TV Network, Bennett Coleman & Co. Ltd, NDTV Lifestyle Ltd, Zee Entertainment Enterprises Odisha Television Ltd, Celebrities Management P Ltd, Eenadu Television P Ltd, Panorama Television P Ltd, MAA Television Network, Sarthak Entertainment P Ltd, and Prism TV Pvt. Ltd.

    According to information available with Indiantelevision.com, some of these cases have been pending since 2013. There have also been some instances wherein executives of various channels have been seeking exemption from personal appearance whenever the cases came up.

    In the Delhi High Court TRAI had earlier assured that no coercive action would be taken till the court’s final decision.

    However, the Delhi High Court had directed every channel, which was involved in the case before it, to maintain a register of the advertisement time consumed by them.

    The News Broadcasters Association (NBA) had challenged the adcap rule, contending that TRAI did not have jurisdiction to regulate commercial airtime on television channels. Apart from the NBA, the petitions were filed by Sarthak Entertainment, Pioneer Channel Factory, E24 Glamour, Sun TV Network, TV Vision, B4U Broadband, 9X Media, Kalaignar, Celebrities Management, Eenadu Television and Raj Television.

    Later Home Cable Network, which claims pay channels should not be permitted to carry advertisements, was impleaded. Discovery Communications has also filed for being impleaded and this application is slated to be heard on 29 March.  

  • Adcap violations cases against 15 TV channels put off to April

    Adcap violations cases against 15 TV channels put off to April

    NEW DELHI: Complaints against various television channels before Chief Metropolitan Magistrate relating to adcap violations by the Telecom Regulatory Authority of India (TRAI) are now slated to come up for hearing on 2 April.

    CMM (Delhi Central) Pooran Chand directed that as the matter was pending in the Delhi High Court, the interim orders would continue.

    TRAI had filed complaints before the Magistrate’s Court against IBN Lokmat News, Zee News, TV Today Network, Sun TV Network, Bennett Coleman & Co. Ltd, NDTV Lifestyle Ltd, Zee Entertainment Enterprises Odisha Television Ltd, Celebrities Management P Ltd, Eenadu Television P Ltd, Panorama Television P Ltd, MAA Television Network, Sarthak Entertainment P Ltd, and Prism TV Pvt. Ltd.

    According to information available with Indiantelevision.com, some of these cases have been pending since 2013. There have also been some instances wherein executives of various channels have been seeking exemption from personal appearance whenever the cases came up.

    In the Delhi High Court TRAI had earlier assured that no coercive action would be taken till the court’s final decision.

    However, the Delhi High Court had directed every channel, which was involved in the case before it, to maintain a register of the advertisement time consumed by them.

    The News Broadcasters Association (NBA) had challenged the adcap rule, contending that TRAI did not have jurisdiction to regulate commercial airtime on television channels. Apart from the NBA, the petitions were filed by Sarthak Entertainment, Pioneer Channel Factory, E24 Glamour, Sun TV Network, TV Vision, B4U Broadband, 9X Media, Kalaignar, Celebrities Management, Eenadu Television and Raj Television.

    Later Home Cable Network, which claims pay channels should not be permitted to carry advertisements, was impleaded. Discovery Communications has also filed for being impleaded and this application is slated to be heard on 29 March.  

  • Q3-2016: Sun TV YoY revenue & PAT up

    Q3-2016: Sun TV YoY revenue & PAT up

    BENGALURU: Sun TV Network Limited (Sun TV) reported 3.9 per cent growth in standalone revenue (Total income from operations or TIO) in Q3-2016 (quarter ended 31 December, 2015, current quarter) at Rs 574.12 crore as compared to Rs 552.44 crore in Q3-2015 and a 1.1 per cent QoQ growth from Rs 568.09 crore in Q2-2016. Including other income, Total income in the current quarter increased 4.1 per cent YoY to Rs 598.72 crore from Rs 575.03 crore and increased 1.7 per cent QoQ as compared to Rs 588.44 crore.

    The company reported 0.7 per cent higher YoY profit after tax (PAT) in the current quarter at Rs 215.59 crore (37.6 per cent margin) as compared to Rs 214.13 crore (38.8 per cent margin), but 1.7 per cent lower than the Rs 218.38 crore (38.4 per cent margin) in Q2-2016. 

    Note: 100,00,000 = 100 Lakhs = 10 million = 1 crore
    All figures in this report are standalone.

    The company in its earnings release says that advertisement revenues grew two per cent YoY in the current quarter to Rs 298.35 crore, but were one per cent lower QoQ as compared to Rs 301.37 crore in the immediate trailing quarter. It says that DTH revenue (Sun Direct) for Q3-2106 was up 14 per cent at Rs.150.88 crore.

    The Sun TV board of directors has declared a second interim dividend of Rs 2 per share (40 per cent) on a face value of Rs 5 per share. With this, the total dividend declared by the Board so far for the financial year 2015 – 16 is Rs 8 per share (160 per cent) on a face value of Rs 5 per share as against the total dividend of Rs 11.25 per share (225 per cent) on a face value of Rs 5 per share declared during the previous year ended 31 March, 2015.

    Let us look at the other numbers reported by Sun TV

    Sun TV reported EBIDTA of Rs 440.44 crore (76.7 per cent margin), which was 3 per cent higher YoY as compared to Rs 427.8 crore (77.4 per cent margin) and 1.9 per cent higher QoQ as compared to Rs 432.23 crore (76.1 per cent margin).

    Sun TV’s total expenses (TE) in the current quarter at Rs 268.43 crore (46.8 per cent of TIO) was 7.4 per cent higher YoY as compared to Rs250.05 crore (45.3 per cent of TIO) and 5.9 per cent higher QoQ as compared to Rs 253.44 crore (44.6 per cent of TIO). The company’s TE of Rs 412.1 crore (59.6 per cent of TIO) in Q1 included IPL Franchisee (Sun Risers Hyderabad) of Rs 85.05 crore (12.3 per cent of TIO), which is a non-recurring item during the other three quarters of the year. 

    Sun TV’s ‘Other Expenditure’ (OE) increased 30.6 per cent YoY to Rs 35.16 crore (6.1 per cent of TIO) as compared to Rs 26.93 crore (4.9 per cent of TIO) and was 12.3 per cent higher QoQ as compared to Rs 31.31 crore (5.5 per cent of TIO).

    Sun TV’s Employee Benefit Expense (EBE) in Q3-2016 increased 5.5 per cent YoY to Rs 58.73 crore (10.2 per cent of TIO) as compared to Rs 55.69 crore 10.1 per cent of TIO) and increased 3.2 per cent QoQ as compared to Rs 56.92 crore (10 per cent of TIO) in the immediate trailing quarter.

  • Q3-2016: Sun TV YoY revenue & PAT up

    Q3-2016: Sun TV YoY revenue & PAT up

    BENGALURU: Sun TV Network Limited (Sun TV) reported 3.9 per cent growth in standalone revenue (Total income from operations or TIO) in Q3-2016 (quarter ended 31 December, 2015, current quarter) at Rs 574.12 crore as compared to Rs 552.44 crore in Q3-2015 and a 1.1 per cent QoQ growth from Rs 568.09 crore in Q2-2016. Including other income, Total income in the current quarter increased 4.1 per cent YoY to Rs 598.72 crore from Rs 575.03 crore and increased 1.7 per cent QoQ as compared to Rs 588.44 crore.

    The company reported 0.7 per cent higher YoY profit after tax (PAT) in the current quarter at Rs 215.59 crore (37.6 per cent margin) as compared to Rs 214.13 crore (38.8 per cent margin), but 1.7 per cent lower than the Rs 218.38 crore (38.4 per cent margin) in Q2-2016. 

    Note: 100,00,000 = 100 Lakhs = 10 million = 1 crore
    All figures in this report are standalone.

    The company in its earnings release says that advertisement revenues grew two per cent YoY in the current quarter to Rs 298.35 crore, but were one per cent lower QoQ as compared to Rs 301.37 crore in the immediate trailing quarter. It says that DTH revenue (Sun Direct) for Q3-2106 was up 14 per cent at Rs.150.88 crore.

    The Sun TV board of directors has declared a second interim dividend of Rs 2 per share (40 per cent) on a face value of Rs 5 per share. With this, the total dividend declared by the Board so far for the financial year 2015 – 16 is Rs 8 per share (160 per cent) on a face value of Rs 5 per share as against the total dividend of Rs 11.25 per share (225 per cent) on a face value of Rs 5 per share declared during the previous year ended 31 March, 2015.

    Let us look at the other numbers reported by Sun TV

    Sun TV reported EBIDTA of Rs 440.44 crore (76.7 per cent margin), which was 3 per cent higher YoY as compared to Rs 427.8 crore (77.4 per cent margin) and 1.9 per cent higher QoQ as compared to Rs 432.23 crore (76.1 per cent margin).

    Sun TV’s total expenses (TE) in the current quarter at Rs 268.43 crore (46.8 per cent of TIO) was 7.4 per cent higher YoY as compared to Rs250.05 crore (45.3 per cent of TIO) and 5.9 per cent higher QoQ as compared to Rs 253.44 crore (44.6 per cent of TIO). The company’s TE of Rs 412.1 crore (59.6 per cent of TIO) in Q1 included IPL Franchisee (Sun Risers Hyderabad) of Rs 85.05 crore (12.3 per cent of TIO), which is a non-recurring item during the other three quarters of the year. 

    Sun TV’s ‘Other Expenditure’ (OE) increased 30.6 per cent YoY to Rs 35.16 crore (6.1 per cent of TIO) as compared to Rs 26.93 crore (4.9 per cent of TIO) and was 12.3 per cent higher QoQ as compared to Rs 31.31 crore (5.5 per cent of TIO).

    Sun TV’s Employee Benefit Expense (EBE) in Q3-2016 increased 5.5 per cent YoY to Rs 58.73 crore (10.2 per cent of TIO) as compared to Rs 55.69 crore 10.1 per cent of TIO) and increased 3.2 per cent QoQ as compared to Rs 56.92 crore (10 per cent of TIO) in the immediate trailing quarter.

  • Adcap case to be heard on 11 February, MIB informs Court matter under discussion with broadcasters

    Adcap case to be heard on 11 February, MIB informs Court matter under discussion with broadcasters

    NEW DELHI, 27 November: The Information and Broadcasting Ministry today informed the Delhi High Court that it was in talks with the News Broadcasters Association and other stakeholders on the issue of the advertising cap of 12 minutes per hour.

     

    Consequently, the Court put off hearing of the matter to 11 February. This is the first time that the Ministry has put in an appearance in the petition filed by the News Broadcasters and others against the Telecom Regulatory Authority of India and others.

     

    The Bench observed that the matter had been pending for some time and therefore it will hear and conclude the case in the next hearing.

     

    Counsel for NBA Nisha Bhambhani also said that talks were on with the Ministry in this regard.

     

    Meanwhile in an intervention MSO Home Cable Network (P) Ltd said it wanted to intervene as it was directly affected by the outcome of the present petition. Lawyer Vivek Sarin appearing for Home Cable said in the intervention application that “the ordinary subscribers are unduly burdened with unjustified charges when the cost of operating the channels can be recovered from the advertisement revenue. The said cost includes notional profits also.”

     

    The application wanted the NBA petition to be dismissed and added: “The Pay channel broadcasters are profiteering at the expense of subscribers and the DPO’s. There is no justification for changing monthly subscription when commercial advertisements are inserted. The Standards of Quality of Service (Digital Addressable Cable TV Systems) Regulations 2012 (with Amendments thereafter) is justified to the extent they are applicable to Pay Channels. The pay channel broadcasters cannot charge the subscription fee while inserting commercials into the content or in the alternative, the subscribers have to be compensated for the revenue earned on the basis of their being subscribers of the channels.”

     

    In the last two hearings on 8 and 23 September, the NBA had sought the adjournment on the ground that the matter was under discussion with the Ministry to seek certain clarifications.

     

    (It is learnt by indiantelevision.com that this comes in the wake of a statement made by Minister Arun Jaitley in January this year that there should be no ad cap in the print or electronic media, However, no instructions have been issued in this regard by the Minister so far,).

    The order that TRAI will not take any action against any channel pending the petition will continue. In an earlier hearing, the Court had, at the regulator’s instance, directed that all channels keep a record of the advertisements run by them.
      
    The NBA had challenged the ad cap rule, contending that TRAI does not have jurisdiction to regulate commercial airtime on television channels.
     
    Apart from the NBA, the petitions have been filed by Sarthak Entertainment, Pioneer Channel Factory, E24 Glamoru, Sun TV Network, TV Vision, B4U Broadband, 9X Media, Kalaignar, Celebrities Management, Eanadu Television and Raj Television.
     

    The news and regional broadcasters fear that the capping of commercial airtime will curtail their ad revenues. They also argue that the ad cap must be brought only after the benefits of cable TV digitisation start showing. 

     

     Meanwhile, TRAI had three months earlier released results of their records which show that around 36 news channels apart from 105 General Entertainment Channels are violating the ad cap by telecast ads of more than 12 minutes an hour.

  • Sun TV rises again; seeks board approval for buyback

    Sun TV rises again; seeks board approval for buyback

    MUMBAI: The Sun TV Network stock hit a high of Rs 459 on 20 March, 2015, on the back of good results. But the share starting sliding thereafter and hit a low of Rs 256.05 on 22 July 2015. 

     

    This followed its promoter Kalanithi Maran’s woes with SpiceJet, the Ministry of Home Affairs’ denial of security clearance to Sun Network’s 33 channels, the income tax authorities cracking the whip on the 50 year old Maran and his wife Kaveri.

     

    Naysayers and the media said that the two had met their match and they would be forced to sell their holdings in the listed entity and exit the media business. 

     

    Then the government barred the group’s sister company Red FM from taking part in the FM radio phase III auctions.

     

    But lo and behold the husband-wife duo did not take things lying down. Red FM went to the courts, which ruled in the company’s favour and it was permitted to take part in the e-Auctions. 

     

    And the Marans have come back with a vengeance. The first rural + urban BARC ratings saw Sun TV emerging as the highest viewed channel in India. And the company declared healthy results for the second quarter of fiscal 2016. Additionally, the company is sitting on Rs  750 crore in cash.

     

    Now the Sun TV Network has informed the stock exchange that the company is holding a board meeting on 5 November to consider buying back its equity shares from the public. Buying back shares would involve paying cash and annulling them. 

     

    The Marans hold about 75 per cent of the stock and hence may have to tender their some of their holdings to comply with Sebi restrictions. 

     

    It was not clear at the time of writing if the company would go all the way and delist from the stock exchange or whether the buy back is being considered as a sign of the Maran’s confidence about the company’s future and hence boost investor sentiment. 

     

    Meanwhile, the Sun TV shares spurted five per cent on 30 October to close the day at Rs 395.70. It hit an intraday high of Rs 411. 

     

    Watch this space for more news.