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Tamil Nadu election results: Shares of Sun TV Network crashed 9.5% to the day's low of ₹547.55 apiece after the early trends for Tamil Nadu election results signalled that Vijay Thalapathy's Tamilaga Vettri Kazhagam (TVK) could emerge as the single largest party, defeating the incumbent Dravida Munnetra Kazhagam (DMK).
Sun TV Network shares hit the day's low of ₹547.55 on the BSE as against its last closing price of ₹605, down 9.49%.
Sun TV, part of the Sun Group, is led by Indian billionaire media proprietor Kalanithi Maran — who is closely related to DMK leaders. Maran is the grandnephew of DMK president M Karunanidhi and nephew of the current chief minister MK Stalin.
However, analysts believe that Sun TV’s fall should be read as "more than just a one-day sentimental reaction".
"The election trigger has only brought an existing concern back into focus: the stock has not created meaningful wealth even during the last five years of DMK rule, which shows that political proximity alone has not translated into superior earnings growth or valuation re-rating. In the near term, any adverse political narrative can keep the stock under pressure because the market generally discounts uncertainty first," said Harshal Dasani, Business Head at INVAsset PMS.
Sun TV Network shares have seen a mixed trend since the appointment of Stalin as CM in 2021. It has delivered positive annual returns of 4% and 46% in 2021 and 2023, respectively. Meanwhile, the stock has declined 2% in 2022, 4% in 2024 and 14% in 2025. So far this year, the stock is down 4%.
A record wave against the ruling DMK was clearly visible as it trailed in the third spot, while actor-politician Vijay appears to be waiting to create a new history in the electoral politics of Tamil Nadu.
As of 12.55 pm, TVK was leading in 113 seats, NDA on 64 seats and the ruling DMK alliance at 46 seats.
Chief Minister Stalin himself trailed behind TVK's little-known VS Babu in the Kolathur segment here, as per EC updates. Deputy CM Udhayanidhi Stalin was behind TVK's D Selvam in Chepauk-Thiruvalikeni, according to EC data posted on its website.
If Vijay's party crosses the majority mark of 118 seats, it would be a new history with no parallels. No party, just two years after its founding, has managed to assume power in TN.
Going ahead, Sun TV's share price outlook remains sideways to negative as the core business continues to face challenges from weak advertising growth and OTT-led audience migration.
Unless there is a visible improvement in revenue growth, content monetisation and capital allocation, the stock may struggle to command a higher multiple, said Dasani.
"Dividend yield and cash on books can offer some downside cushion, but they are not enough to drive sustained upside. Investors should therefore avoid chasing declines purely on valuation comfort and wait for clearer evidence of business revival," he added.
Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Saloni Goel has over nine years of experience as a business journalist, with a strong track record of covering the financial markets. Over the course of her career, she has reported extensively on global and domestic equities, IPO market activity, commodities, and broader macroeconomic trends. Her reporting reflects a keen eye for detail, data-driven analysis, and the ability to spot emerging themes early.<br> At Mint, Saloni has been part of the markets team for nearly two years, where she currently works as Chief Content Producer. In this role, she plays a key part in shaping market coverage, driving editorial strategy, and ensuring timely, accurate, and insightful reporting across. She has been closely involved in breaking news coverage and in crafting stories that help decode the complex financial developments.<br> Before joining Mint, Saloni worked with some of India’s leading business newsrooms, including The Economic Times and Business Standard. Throughout her career, she has worn multiple hats—ranging from reporting and editing to contributing in-depth features and identifying new storytelling formats and market trends.<br> Her experience in fast-paced digital newsrooms has given her an edge in simplifying complex market concepts without losing analytical depth. Outside of work, Saloni enjoys reading books and spending time with her pet.
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