Tamil Nadu: Blow for Karunanidhi family's business interests?
Tamil Nadu: Blow for Karunanidhi family's business interests? Thursday’s state election results are likely to make the fortunes for some businesses and mar for some others. The biggest and most prominent loser of the day was from the family of DMK chief M Karunanidhi. On the day of the results, the Sun TV stock lost Rs 2,229 crore in market value. Its market capitalisation fell from Rs 16,845 crore at its close on Thursday to Rs 14,616 crore at the end of the day. By virtue of his 75 per cent holding, DMK chief M Karunanidhi’s grandnephew Kalanithi Maran would take three-fourths of that hit. This notional loss could be an indicator of the bad news in store for the family’s business interests that extend beyond media. While Maran was among the first in the family to get into organised business through his venture into broadcast media in the early 1990s, there were others who have followed in his footsteps. After a brief break-up in relations with the Ma...