With the Tamil Nadu polling over and election results set to come out in two days, Sun TV shares are making waves on the stock market. Its share price shot up by 7.92 per cent to Rs 1,383.85 on the BSE on Tuesday.The company owned by the Maran family was listed last month after an initial public offering (IPO). Union Communication Minister Dayanidhi Maran’s brother Kalanidhi Maran is the chairman and MD the Sun TV network.Sun TV shares have shot up by 30.4 per cent from Rs 1,061.00 on April 24, 2006 to the current level in a fortnight. ‘‘There was considerable interest in Sun TV shares in the run-up to the elections. Exit poll results that suggested an edge for DMK boosted the Sun TV share,’’ said BSE dealer Pawan Dharnidharka.Sun TV has a market capitalisation of Rs 9,531 crore.Last month, shares of Sun TV Ltd made their debut at Rs 1,111 on the BSE, 27 per cent premium to the issue price of Rs 875. Sun TV is part of the Sun Network, which runs 14 TV channels, four FM radio stations, two daily newspapers and four magazines.
