Dish TV India gained 3.67% to Rs 79 at 15:10 IST on BSE after a domestic brokerage reportedly initiated coverage on the stock with buy rating and a target price of Rs 105.
Meanwhile, the S&P BSE Sensex was up 27.78 points or 0.09% at 31,286.63. The S&P BSE Mid-Cap index was down 77.14 points or 0.51% at 14,910.29.
On the BSE, 3.53 lakh shares were traded on the counter so far as against the average daily volumes of 4.35 lakh shares in the past one quarter. The stock had hit a high of Rs 79.30 and a low of Rs 75.75 so far during the day. The stock had hit a 52-week high of Rs 110.95 on 28 March 2017 and a 52-week low of Rs 69.55 on 11 August 2017.
The stock had outperformed the market over the past one month till 21 August 2017, sliding 2.31% compared with 2.4% decline in the Sensex. The scrip, however, underperformed the market in past one quarter, sliding 20.04% as against Sensex's 2.61% rise. The scrip had also underperformed the market in past one year, declining 18.2% as against Sensex's 11.33% rise.
The mid-cap company has equity capital of Rs 106.60. Face value per share is Re 1.
A domestic brokerage reportedly initiated coverage on the Dish TV India stock with buy rating citing its inexpensive valuations, synergies from the merger, DAS IV digitisation and GST. Further benefits can accrue from a license fee reduction and TRAI's tariff order, the brokerage said. The upcoming merger with Videocon D2H holds significant cost rationalisation potential, it added.
On a consolidated basis, Dish TV India reported net loss of Rs 13.94 crore in Q1 June 2017, compared with net loss of Rs 36.15 crore in Q1 June 2016. Net sales declined 5.1% to Rs 738.88 crore in Q1 June 2017 over Q1 June 2016.
More From This Section
Dish TV is a leading direct-to-home (DTH) company and part of one of India's biggest media conglomerate - the Zee Group.
Powered by Capital Market - Live News