Meanwhile, the BSE Sensex was down 245.47 points, or 2.78%, to 8,594.40.On BSE, 3.23 lakh shares were traded in the counter. The stock had an average daily volume of 26,589 shares in the past one quarter.The stock hit a high of Rs 136 and a low of Rs 125.80 so far during the day. The stock hit a 52-week high of Rs 441.80 on 7 January 2008 and a 52-week low of Rs 125.10 on 1 December 2008.
The mid-cap stock had underperformed the market over the past one month till 1 December 2008, declining 15.03% as compared to the Sensex's decline of 9.69%. It had also underperformed the market in the past one quarter, declining 46.83% as compared to the Sensex's decline of 39.03%.
The company's current equity is Rs 197.04 crore. Face value per share is Rs 5.he current price of Rs 132.55 discounts the company's Q2 September 2008 annualized EPS of Rs 10.99, by a PE multiple of 12.06.According to reports, the Tamil Nadu state chief minister met his estranged grandnephews Kalanithi Maran and Dayanidhi Maran, promoters of Sun TV Network, on Monday, 1 December 2008, after an agreement was clinched by three of his children, MK Azhagiri, MK Stalin and Selvi.
There has been a war of words between the two families for the past one and half years and at one point Azhagiri even went to the extent saying that he would not allow a reunion as long as he was alive.Sun TV had, on 30 October 2008, deferred a decision on buyback of shares due to volatile conditions prevailing in the stock market.
In September 2008, the company entered into film production business through its new division Sun Pictures.Sun TV Network's net profit surged 35.1% to Rs 108.31 crore on 2.3% increase in net sales to Rs 237.88 crore in Q2 September 2008 over Q2 September 2007.
Sun TV Network is a leading television broadcaster in all southern states of India. It offers four Tamil language channels including Sun TV, Sun News, Sun Music and KTV as also two Malayalam channels Surya TV and Kiran TV, apart from Telugu and Kannada channels.
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