Sun TV plunges 3% after buying IPL Hyderabad team

Sun TV Network, an Indian mass media company, plungedafter media reports quoted the company brought IPL Hyderabad team, Deccan Chargers for Rs 850.5 million per year.

Shares ofthe companyare trading at Rs 343.60, down Rs 12.35, or 3.47% at the Bombay Stock Exchange (BSE) on Thursday at 1:43 p.m.The scrip has touched an intra-day high of Rs 358.25 and low of Rs 339.50. The total volume of shares traded at the BSE is 152,012.In the earlier session, the shares fell 0.9%, or Rs 3.25, at Rs 355.95. Currently, the stock is trading down 8.07% from its 52-week high of Rs 373.75 and above 94.4% over the 52-week low of Rs 176.75.

Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 360.35 (4.40) (1.22) 1 Month 327.45 28.50 8.70 3 Months 294.55 61.40 20.85 6 Months 281.90 74.05 26.27 1 Year 250.90 105.05 41.87 Note: Based on previous day closing price.