Moneycontrol Bureau
Morgan Stanley has downgraded its rating on Dish TV to "equal-weight" from "overweight," saying current valuations are too expensive and factor in good progress the DTH (direct-to-home) service provider is making on subscriber additions, cost reductions and ARPU (average revenue per user) growth.
"Dish TV has outperformed the sensex by 37% year-to-date...We see little scope for substantial positive surprise for the street. Nor do valuations suggest upside to us," analysts Vipul Prasad and Ketaki Kulkarni said in a report on Wednesday.
Since start of April Dish TV shares have gone up 34.5% on NSE, while the broader Nifty index has fallen 3.5% over the same period.
However, the analysts didn
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