Short Dish TV, says Vishal Jajoo

Short Dish TV, says Vishal Jajoo, Nirmal Bang Sec.

Jajoo told CNBC-TV18, "Short Dish TV. What we have seen over the last few quarters is basically significant increase in valuation of consumption led stories. These stories were backed by big names, big brands supporting them; classic example could be Jubilant Foodworks, Bata India, TTK Prestige to include Dish TV also. Now what has happened is in the present scenario companies which have got earnings to offer to the investor in the form of EPS or basically distributed earnings in the form of dividends, those companies are expected to do well. The companies which may take some time to basically post some profits in that category, we figure out Dish TV may not be taken by the markets in the present scenario."
He further added, "However we continue to maintain our medium to long term outlook positive on the stock but in the short term it will take some time to basically return to profits. We are skeptical about Dish TV and the stock price should correct marginally wherein it should provide opportunity to accumulate this stock again. Investors can actually nibble at every decline in this stock; we expect the stock at Rs 78.1 during the day."