Dish TV shares rise 13% on lenders' move to change management

Slim chance of loan recovery, say analysts

Shares of Dish TV zoomed 13 per cent on Tuesday, following reports that one of its lenders, YES Bank, had sent a notice to the company to remove the top management, along with its independent directors, after the company board decided to raise Rs 1,000 crore via a rights issue.

On Tuesday, Dish TV shares closed at Rs 15.54 a share, giving it a total market valuation of Rs 2,861 crore.

Although Indian lenders, who currently own a majority stake in the loss-making Dish TV, are planning to overhaul the direct-to-home service provider's management, analysts say lenders have a slim