Mar 25, 2013, 02.54 PM | Source: Moneycontrol.com
Dish TV that provides direct to home (DTH) service rallied more than 5 percent on Monday after the foreign research house Citi recommended a buy rating on the stock with a target price of Rs 77.
"Following the 2 increases to set-top box prices in February, Dish TV is now likely to increase subscriber pack prices by 10 percent from April," Citi reasoned.
Last week the company decided to increase pack prices by 10 percent with effect from April 4, 2013.
Dish TV provides service with basic pack price of Rs 155 per month in southern part of India. For rest of the country, the basic pack price is Rs 200 per month.
At 13:56 hours IST, the stock was up 5.16 percent to Rs 67.20 on Bombay Stock Exchange, continuing its uptrend for the second consecutive session.
In the previous trading session, the share surged 4.67 percent to Rs 63.90.