Dish TV gains as Citigroup and Birla Sun Life purchase bulk shares

Dish TV India rose 1.24% to Rs 85.95 at 13:24 IST on BSE after Citigroup Global Markets Mauritius and Birla Sun Life Trust bought a total of 1.32 crore shares of the company at an average price of Rs 81.75 per share on BSE on Friday, 10 April 2015.

Meanwhile, the S&P BSE Sensex was up 116.01 points or 0.4% at 28,995.39.

On BSE, so far 1.92 lakh shares were traded in the counter as against average daily volume of 12.09 lakh shares in the past one quarter.

The stock a high of Rs 86.35 and a low of Rs 85.10 so far during the day. The stock had hit a 52-week high of Rs 89.05 on 8 April 2015. The stock had hit a 52-week low of Rs 43.25 on 8 May 2014.

The stock had outperformed the market over the past one month till 10 April 2015, advancing 2.29% compared with Sensex's 0.59% rise. The scrip had also outperformed the market in past one quarter, jumping 26.06% as against Sensex's 5.18% rise.

The mid-cap company has equity capital of Rs 106.56 crore. Face value per share is Re 1.

Citigroup Global Markets Mauritius bought 64.05 lakh shares of Dish TV India at an average price of Rs 81.75 per share. Also, Birla Sun Life Trust Company bought 67.95 lakh shares at an average price of Rs 81.75 per share. In the same bulk deal, Apollo India Private Equity II (Mauritius) sold 3.20 crore shares at an average price of Rs 82.04 per share.

Dish TV India reported a net loss of Rs 2.87 crore in Q3 December 2014, lower than net loss of Rs 38.25 crore in Q3 December 2013. Net sales rose 16.6% to Rs 711.22 crore in Q3 December 2014 over Q3 December 2013.

Dish TV India is Asia Pacific's largest direct-to-home (DTH) company and part of one of India's biggest media conglomerate - the Zee Group.

Powered by Capital Market - Live News