Sun TV, SpiceJet shares fall on telecom probe reports Sun TV Share Price

The licence, along with the startup 2G spectrum, was awarded at the same price at which later Raja gave away 2G licenses to Swan, Unitech and a host of other players in 2008 — Aircel paid Rs 1399 crore for 14 telecom circles, the price was arrived at through an auction process in ... But unlike the staggering rate at which the Maxis Group picked up the Sun Direct shares, the allotment to the Marans was made at par value of Rs 10 per share without charging any premium

Shares in Sun TV and budget carrier SpiceJet plunged after media reports said a public lawsuit had named the companies’ chairman’s brother Dayanidhi Maran in a telecoms probe.

Maran, who is the minister for textiles in the central government, is alleged to have favoured one telecoms firm during his earlier stint as telecoms minister, media reports said.

“There are rumours of a potential probe. Investors are concerned and are cutting down positions,” said Suresh Parmar, associate vice president of institutional equities at KJMC Capital Markets.

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