Tale of the Tape 

Hi ya’ll. The weekend is here!

Markets roared back after an otherwise dull week, as strong heavyweight buying propelled Nifty and Sensex +1.3% each. Midcaps (+1.5%) and Smallcaps (+1%) joined the party too. The advance-decline ratio was in favour of the bulls (4:1).

It was a wave of green across sectors. Real Estate (+2.1%) led the rally, followed by PSU Banks (+1.6%) and Metals (+1.1%).

Sun TV’s promoter family is squabbling. Serious legal consequences or a small spat? Read our top story to get the lowdown.

Two-wheeler stocks were hit by selling pressure after the GOI mandated ABS for all bikes. Meanwhile, infra financiers jumped after the RBI relaxed its project financing guidelines. More details below.

Nestle India was up +3% after it said it would consider approving its first-ever bonus share issue on June 26.

FTSE rejig. Waaree Energies (+13%) was the top NSE 500 gainer after being included in its indices. Hyundai Motor India (+5%) and Swiggy (+4%) also saw decent gains.

Delhivery was in focus after a double downgrade by Jefferies; they see a further -12% downsider from current levels. 

Oswal Pumps had a meh market debut. The stock ended at Rs 624 p/sh; +2% higher than its IPO price.

Northern Arc Capital fell -9% intraday before recovering after 2.23 crore shares (13.8% equity) changed hands in a big block deal; the buyers and sellers were not immediately known.

Stock
Sibling Rivalry

Sun TV cracked -5% intraday after being hit by an ugly family feud! Chairman Kalanithi Maran has been accused by his brother Dayanidhi of “fraudulent practices” while taking control of the channel in 2003. The family is no stranger to controversy, but it looks like a court battle may be in the works. Here’s what you need to know.

The allegation: Dayanidhi claims that after their father passed away, Kalanithi fraudulently transferred shares to himself over the course of several years. It first allegedly happened in 2003, when he allotted 12 lakh shares to himself without “proper valuation, fair consideration or consent of other existing shareholders”. And then again in 2005, when he "fraudulently" acquired shares from other stakeholders. Sun TV denies all accusations. 

What does Dayanidhi want?: Restoring the original shareholding and returning all “unlawfully obtained" financial benefits. What’s added to all the drama is that if Sun TV returns to its pre-2003 ownership, that means current TN chief minister MK Stalin and his family will also become shareholders! PS - Stalin and the Marans are first cousins.

Go deeper: It’s unclear how strong this case actually is. After all, we’re talking about stuff that was done decades ago. So why is Dayanidhi raking it up now? We’re still at the legal notice stage right now, so we’ll have to see how it pans out.

Big Picture: This is the last thing Sun TV shareholders need. The channel has been losing market share in its core Tamil Nadu market for the last several years. FY25 was also weak for the industry, with Sun TV’s ad revenues & margins falling. Sun needs to boost its OTT presence and sign deals with the Reliance-Disney giant to weather out the storm; not get stuck in a messy ownership battle.

Specials
3 Stocks Under Rs 300 - By SEBI RAs

In this week’s video, we will walk through the Top 3 stocks to buy under Rs 300 recommended SEBI RAs on Stocktwits. In the video, we’ll break down the recommendations by SEBI RAs, covering both fundamental and technical analysis.