Moneycontrol
Last Updated : Jun 14, 2018 09:41 AM IST | Source: Moneycontrol.com

Dish TV shares gain over 3% after Rakesh Jhunjhunwala picks up stake worth Rs 93 cr

Rakesh Jhunjhunwala picked up a 0.7 percent stake, or 1.3 crore shares, in the digital-to-home provider.

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Direct-to-home services provider Dish TV India share price rallied as much as 3.5 percent in morning on Thursday after ace investor Rakesh Jhunjhunwala bought shareholding worth Rs 93 crore.

He picked up a 0.7 percent stake, or 1.3 crore shares, in the digital-to-home provider.

The purchase was done through Jhunjhunwala's firm Rare Enterprises at Rs 71.30 per share, according to bulk deals data on the National Stock Exchange (NSE) website.

The total value of the block deal stands at Rs 92.69 crore.

In last month, Dish TV reported a consolidated net profit of Rs 118.21 crore for the quarter ended March against a loss of Rs 29.49 crore during the corresponding quarter a year ago.

Its total income for the quarter more than doubled to Rs 1,545.11 crore, from Rs 732.36 crore reported for the March quarter last year.

On March 22, Videocon D2h merged with Dish TV. As a result, its results for the March quarter, which included those of Videocon D2h, are not comparable on a year-on-year basis.

"Financial numbers for the fourth quarter and fiscal 2018 are thus not comparable with the corresponding periods of the last year," the company had said in a statement.

At 09:22 hours IST, the stock price was quoting at Rs 75.90, up Rs 2.50, or 3.41 percent on the BSE.
First Published on Jun 14, 2018 09:41 am
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