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Deal▼ Bearish for Sun TV Network
Sun TV dismisses sports demerger report as rumour; shares had risen up to 20%
The brief
- Sun TV told stock exchanges the report suggesting a possible sports division demerger was a rumour
- A separate report said Sun TV was preparing a potential SRH demerger
- The clarification may temper speculation-driven moves in Sun TV shares
- Sun TV zooms 20%, sees sharpest intraday rally in 9 years; up 45% in 7 days
- Sun TV share price jumps as high as 18% following this CNBC Awaaz exclusive
- Sun TV Share Price On A September Sprint: Up Over 30% In A Month, What's Fueling The Rally?
- Volumes jump at Sun TV Network Ltd counter
Sun TV's potential SRH demerger
Sun TV was reported to be preparing for a potential demerger of its Sunrisers Hyderabad IPL business. Its shares rose as much as 18% amid the reports.
Wednesday, 30 September
- Sun TV dismisses sports demerger report as rumour; shares had risen up to 20%