News Headline
Sun TV rises again; seeks board approval for buyback
MUMBAI: The Sun TV Network stock hit a high of Rs 459 on 20 March, 2015, on the back of good results. But the share starting sliding thereafter and hit a low of Rs 256.05 on 22 July 2015.
This followed its promoter Kalanithi Maran’s woes with SpiceJet, the Ministry of Home Affairs’ denial of security clearance to Sun Network’s 33 channels, the income tax authorities cracking the whip on the 50 year old Maran and his wife Kaveri.
Naysayers and the media said that the two had met their match and they would be forced to sell their holdings in the listed entity and exit the media business.
Then the government barred the group’s sister company Red FM from taking part in the FM radio phase III auctions.
But lo and behold the husband-wife duo did not take things lying down. Red FM went to the courts, which ruled in the company’s favour and it was permitted to take part in the e-Auctions.
And the Marans have come back with a vengeance. The first rural + urban BARC ratings saw Sun TV emerging as the highest viewed channel in India. And the company declared healthy results for the second quarter of fiscal 2016. Additionally, the company is sitting on Rs 750 crore in cash.
Now the Sun TV Network has informed the stock exchange that the company is holding a board meeting on 5 November to consider buying back its equity shares from the public. Buying back shares would involve paying cash and annulling them.
The Marans hold about 75 per cent of the stock and hence may have to tender their some of their holdings to comply with Sebi restrictions.
It was not clear at the time of writing if the company would go all the way and delist from the stock exchange or whether the buy back is being considered as a sign of the Maran’s confidence about the company’s future and hence boost investor sentiment.
Meanwhile, the Sun TV shares spurted five per cent on 30 October to close the day at Rs 395.70. It hit an intraday high of Rs 411.
Watch this space for more news.
NEW DELHI: Hamdard Laboratories gathered a cross-section of India’s achievers in New Delhi on Friday, handing out the Hakeem Abdul Hameed Excellence Awards to figures who have left their mark across healthcare, education, sport, public service and the arts.
The ceremony, attended by minister of state for defence Sanjay Seth and senior officials from the ministry of Ayush, celebrated individuals whose work blends professional success with a sense of public purpose. It was as much a roll call of achievement as it was a reminder that influence is not measured only in profits or podiums, but in people reached and lives improved.
Among the headline awardees was Alakh Pandey, founder and chief executive of PhysicsWallah, recognised for turning affordable digital learning into a mass movement. On the sporting front, Arjuna Awardee and kabaddi player Sakshi Puniya was honoured for her contribution to the game and for pushing women’s participation onto bigger stages.
The cultural spotlight fell on veteran lyricist and poet Santosh Anand, whose songs have echoed across generations of Hindi cinema. At 97, Anand accepted the honour with characteristic humility, reflecting on a life shaped by perseverance and hope.
Healthcare honours spanned both modern and traditional systems. Manoj N. Nesari was recognised for strengthening Ayurveda’s place in national and global health frameworks. Padma shri Mohammed Abdul Waheed was honoured for his research-backed work in Unani medicine, while padma shri Mohsin Wali received recognition for his long-standing contribution to patient-centred care.
Education and social development also featured prominently. Padma shri Zahir Ishaq Kazi was honoured for decades of work in education, while former Meghalaya superintendent of Police T. C. Chacko was recognised for public service. Goonj founder Anshu Gupta received an award for his dignity-centred rural development initiatives, and the Hunar Shakti Foundation was honoured for empowering women and young girls through skill development.
The Lifetime Achievement Award went to former IAS officer Shailaja Chandra for her long career in public healthcare and governance, particularly in the traditional systems under Ayush.
Speaking at the event, Hamdard chairman Abdul Majeed said the awards were a tribute to those who combine excellence with empathy. “These awardees reflect Hakeem Sahib’s belief that healthcare, education and public service must ultimately serve humanity,” he said.
Minister Seth struck a forward-looking note, saying India’s young population gives the country a unique opportunity to become a global destination for learning, health and wellness by 2047.
The ceremony also featured the trailer launch of Unani Ki Kahaani, an upcoming documentary starring actor Jim Sarbh, set to premiere on Discovery on 11 February.
Instituted in memory of Unani scholar and educationist Hakeem Abdul Hameed, the awards have grown into a national platform that celebrates those building a more inclusive and resilient India. For one evening at least, the spotlight was not just on success, but on service with substance.
