Sun TV stocks remain volatile

Maran family-owned broadcasting firm Sun TV on Monday bounced back from its sharp intra-day lows and settled with gains of over 10 per cent from its last close in volatile trading. Shares of Sun TV settled at Rs 288.15,higher by 10.21 per cent on the BSE. Earlier in the day,the stock had tanked as much as 16 per cent after CBI conducted raids on the premises of owner Kalanithi Maran and his brother,former Telecom Minister Dayanidhi Maran. Analysts said that after the initial slump,bottom fishing emerged on the counter and the stock recovered from its days lows. The bullishness in the broader market also helped investor sentiment.