Shares of Solar TV Community Ltd fell 3.5% on twentieth June after touching a day’s excessive of Rs 604, amid experiences of a authorized feud between the Maran brothers — DMK MP Dayanidhi Maran and Solar TV proprietor and billionaire businessman Kalanithi Maran.
On tenth June, Dayanidhi Maran reportedly despatched a authorized discover to his brother, Kalanithi Maran, threatening to provoke civil, legal, regulatory, and enforcement proceedings except Solar TV’s shareholding is restored to its authentic construction as of 2003. The discover names seven different respondents along with Kalanithi and follows a earlier discover despatched in October 2024.
The discover accuses Kalanithi Maran of “fraudulent practices,” together with allegations of “dishonest and cash laundering.”
As of the March quarter, Kalanithi Maran, who at the moment acts because the promoter of Solar TV, holds a 75% stake within the firm—valued at round Rs 18,000 crore primarily based on present market costs.
Among the many public shareholders of Solar TV are a number of home mutual funds, collectively holding a 9.74% stake. Notable names embody Kotak Fairness Alternatives Fund (2.2%), Quant Lively Fund (4.7%), and ICICI Prudential Exports and Companies Fund (1.95%).
At 10:17 AM, the shares of Solar TV have been buying and selling 3.42% decrease at Rs 591.20 at NSE.
Solar TV Insights? Let the Analyst Information You.
Prepared to take a position like a professional? Unicorn Alerts app equips you with 100+ Free instruments and data it’s good to succeed. Obtain the Unicorn Alerts app and achieve entry to day by day inventory lists and insightful market evaluation and way more!
