Dish TV surges after a block deal

Dish TV India surged 3.97% to Rs 60.20 at 14:51 IST on BSE after a block deal of 12.74 lakh shares was executed in the counter on BSE at Rs 60 per share at 13:51 IST.

The block deal constitutes 0.11% of Dish TV India's equity.

Meanwhile, the S&P BSE Sensex was down 116.08 points or 0.56% at 20,738.84.

On BSE, 25.04 lakh shares were traded in the counter as against average daily volume of 6.10 lakh shares in the past one quarter.

The stock was volatile. The stock rose as much as 5.95% at the day's high of Rs 61.35 so far during the day. The stock lost as much as 2.24% at the day's low of Rs 56.60 so far during the day.

The stock had outperformed the market over the past one month till 3 December 2013, surging 5.66% compared with the Sensex's 1.81% fall. The scrip had also outperformed the market in past one quarter, galloping 43.32% as against Sensex's 14.37% gain.

Dish TV India reported a net loss of Rs 16 crore in Q2 September 2013 as against net profit of Rs 55.09 crore in Q2 September 2012. Net sales rose 10.6% to Rs 589.68 crore in Q2 September 2013 over Q2 September 2012.

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

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