Sun TV surges 8% after AG curtsy on extend of confidence clearance

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Mumbai: Shares of Sun TV Network soared roughly 8 percent currently after Attorney General (AG) Mukul Rohatgi upheld extend of confidence clearway to 33 channels of a Kalanithi Maran-promoted firm.

The Sun TV logo. ReutersThe Sun TV logo. Reuters

The Sun TV logo. Reuters

Following this, a batch jumped 7.86 percent to settle during Rs 333.55 on BSE. In intra-day, it surged 10.68 percent to Rs 342.30.

On NSE, it climbed 7.88 percent to Rs 333.90.

The company’s marketplace value rose Rs 957.69 crore to Rs 13,144.69 crore.

The AG has upheld extend of confidence clearance, observant a crime cases being investigated opposite a network’s upholder can't be a belligerent to repudiate permission.

The information and broadcasting method had recently approached a law method to find a opinion of a tip law officer on a emanate after a Ministry of Home Affairs (MHA) denied confidence clearway to a network.

In his opinion, a Attorney General has pronounced confidence clearway can be postulated as agencies are probing cases associated to corruption, and not security. Hence, he added, crime cases can't be a belligerent to repudiate confidence clearance.

The IB method issues broadcasting licences for that companies need a confidence curtsy from MHA.

The method had progressing been sensitive about a preference of a home method denying confidence clearway to a TV network, that is believed to have been shabby by tentative crime cases opposite Maran and his brother, former Union apportion Dayanidhi Maran.

The 30-share Sensex currently staid during 27,316.17, adult 200.34 points.