Sun TV Network, the entertained channel owned by Kalanidhi Maran â€” the grandnephew of DMK president M Karunanidhi, saw its shares plummet 10 percent on the Bombay Stock Exchange (BSE) on Thursday.
The stock opened lower from Wednesday's close of Rs. 427.55 and touched a low of Rs. 375.80 before recovering to trade at Rs. 376.55, still down 11.88 percent at around 10 .a.m.
Early trends have been showing the AIADMK alliance having a lead over archrival DMK in initial trends for the Tamil Nadu Assembly polls, counting for which are underway in the state.
The stakes are high for incumbent Chief Minister J Jayalalithaa and her opponent M Karunanidhi.
Exit polls had predicted for the DMK-Congress combine.
The Sun TV Network had gained about 10 percent on Tuesday, a day after exit polls had said that the DMK-Congress alliance is likely to unseat J Jayalalithaa's AIADMK.
The Sensex was trading at 25,592, down 112 points, or 0.44 percent.
The rupee opened 18 paise down at 67.15 to the U.S. dollar, the sixth straight day of fall.