Sun TV Network Limited witnessed a sharp 6% jump in its share price following a significant development involving the promoter’s family. As of 12:38 PM, the shares were trading 6.03% higher at Rs 582.75.
The company announced that all legal notices issued by a family member to the promoter, his relative, and unrelated individuals have been unconditionally and irrevocably withdrawn. This update effectively resolves the personal legal dispute that had been making headlines recently.
The company had earlier clarified that these legal matters were personal in nature and did not impact the business operations or day-to-day management of Sun TV Network. The recent withdrawal of the legal notices reassures investors and stakeholders, reflecting stability within the promoter’s family and reaffirming that the company’s core activities remain unaffected.
With this issue now settled, Sun TV is expected to continue its steady business trajectory, maintaining confidence among shareholders and the market.
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