Dish TV stock surged nearly 7 per cent today following reports that government is considering a proposal to raise FDI limit to 100 per cent in broadcasting carriage and content services, including DTH and cable networks.
Dish TV's scrip climbed 6.59 per cent to settle at Rs 116.45 on the BSE. During the day, it surged 7 per cent to Rs 116.90.
Shares of Hathway Bhawani Cabletel & Datacom also rose by 4.69 per cent to Rs 8.03.
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An inter-ministerial committee is considering FDI proposals, including hiking foreign direct investment cap in cable networks, direct-to-home (DTH), Mobile TV, HITS (Headend-in-the Sky Broadcasting Service) and Teleports to 100 per cent, from 74 per cent at present, sources said.
In case of broadcasting content services - uplinking of news and current affairs TV channels, the proposal under discussion is to raise the limit to 49 per cent from the present 26 per cent, they said.
Increase in FDI limit will help improve the pace of digitisation of broadcasting services across India.
Companies which are involved in the business of broadcasting carriage services include Dish TV, Siti Cables, Hathway services and Den Networks.
