Dish TV India dropped 4.45% to Rs 21.45 on profit selling after recent steep gains.
Shares of Dish TV India surged 12.25% in the past five trading sessions.The stock hit a 52-week high of Rs 24.45 on 2 December 2022. The stock hit a 52-week low of Rs 10.23 on 20 June 2022.
The stock had outperformed the market over the past one month, soaring 37.7% compared with 2.53% rise in the Sensex.
The scrip outperformed the market in past one quarter, surging 19.39% as against Sensex's 5.56% rise.
The scrip had outperformed the market in past one year, jumping 13.42% as against Sensex's 10.12% rise.
On the technical front, the stock's daily RSI (relative strength index) stood at 66.61. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
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On the daily chart, the stock was trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 17.41, 15.34 and 14.90 respectively. These levels will act as crucial support zones in near term.
Dish TV India is engaged in the business of providing Direct to Home ('DTH') television and Teleport services. On consolidated basis, the company's net profit declined 28.3% to Rs 22.08 crore on 17% decrease in net sales to Rs 596.31 crore in Q2 FY23 over Q2 FY22.
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