Dish TV India rose 4.47% to Rs 32.70 at 12:11 IST on BSE after media reports suggested that Bharti Airtel may buy the promoter's stake in Dish TV.
Meanwhile, S&P BSE Sensex was up 80.79 points or 0.20% at 39,920.04.
On BSE, 18.9 lakh shares were traded in Dish TV India counter, compared to a 2-week average of 18.27 lakh shares. The share price hit an intraday high of Rs 33.70 and an intraday low of Rs 31. It hit a 52-week high of Rs 74.30 on 16 July 2018 and a 52-week low of Rs 19.25 on 28 January 2019.
According to media reports, Bharti Airtel and Warburg Pincus are likely to partner to buy Dish TV, and pay Rs 45-50 a share to the Goel family, promoters of the direct-to-home (DTH) service provider, who would get an amount between Rs 4,800 crore and Rs 5,300 crore, the report said.
In 2016, Dish TV acquired Videocon d2h, the first biggest merger in the DTH service space. Bharti Airtel operates rival DTH platform Airtel Digital.
As on 31 March 2019, promoters held 57.99% stake in Dish TV India.
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Dish TV India's consolidated net profit rose 67.1% to Rs 202.63 crore on 8.7% decline in net sales to Rs 1,398.75 crore in Q4 March 2019 over Q4 March 2018.
Dish TV India is a DTH entertainment company.
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