Sun TV Network rallied nearly 3% on Friday after Madras High Court has stayed a Tamil Nadu government decision to levy 30% entertainment tax on DTH (direct-to-home services). A share was quoting at Rs 278 at 14:12 hours IST.
Volume too increased 100% to 220,176 shares, as compared to its 5-day average of 111,273 shares.
Yesterday the stock closed up 8.43% at Rs 270.20. Its current market capitalization stands at Rs 10,955.55 crore.
In the quarter ended September 2011, the company posted a net profit of Rs 180.12 crore as against Rs 167.44 crore in the corresponding quarter of last year. Total income increased to Rs 469.88 crore from Rs 434.03 during the same period.
