Sun TV shares zoom after CBI court clears Maran brothers

Analysts had viewed the case as a overhang on the stock.

CBI court clears Dayanidhi Maran and Kalanidhi Maran.

Shares of Sun TV Network Ltd. rose over 4% on the BSE after a special CBI court in Chennai discharged the Maran brothers in the illegal BSNL telephone exchange case on Wednesday.

The shares were trading at ₹942.20 a piece just before the close of trading on Wednesday. The shares opened the day at ₹894.65.

The Special Court for CBI case discharged the former telecom minister Dayanidhi Maran and his brother Kalanidhi Maran (who is the promoter of Sun TV) in the case.

Analysts had viewed the case as a overhang on the stock, and this development has come as a welcome news for investors.