The latest shareholding pattern available on the exchanges showed that the stake of promoter and promoter group fell to 55.27 percent at the end of September quarter 2019, against 57.52 percent as of June this year.
In a statement, the company said owing to the netting off of programming cost from revenues, to better reflect the New Tariff Regime, subscription and operating revenues for the quarter are not comparable with the corresponding period last year.
Dish TV will be main brand after the merger.
At the current market rate, company's market capitalisation stood at Rs 7,400 crore
Manpasand Beverages, Indiabulls Real Estate, Dish TV India, are some of the companies where promoters increased their holding but stocks remained underperformer.
Motilal Oswal is bullish on Dish TV India has recommended buy rating on the stock with a target price of Rs 50 in its research report dated October 25, 2018.
Bank of America Merrill Lynch also said Dish TV is likely to be vulnerable from RIL's acquisitions.
Edelweiss bullish on Dish TV India has recommended buy rating on the stock with a target price of Rs 96 in its research report dated July 11, 2018.
Motilal Oswal is bullish on Dish TV India has recommended buy rating on the stock with a target price of Rs 100 in its research report dated July 10, 2018.
Rakesh Jhunjhunwala picked up a 0.7 percent stake, or 1.3 crore shares, in the digital-to-home provider.
"Nifty has formed Bullish Candles for three consecutive days. Index might face strong hurdle around 10430-10455 levels i.e. 100 and 50 SMA respectively," says Rajesh Agarwal of AUM Capital.
The merger, which was approved by the board of both the companies in November 2016, has been going through various approval processes, including from Ministry of Information and Broadcasting, NCLT and the Competition Commission of India.
The company WILL be taking further steps for effecting the said merger and accordingly, the companies involved in the scheme will be file the relevant intimations/E-Forms with the Registrar of Companies, the corporate affairs ministry and other regulatory forums on or about December 27, which will be the effective date for the Scheme, Dish TV India said in a regulatory filing.
Motilal Oswal is bullish on Dish TV India has recommended buy rating on the stock with a target price of Rs 106 in its research report dated December 05, 2017.
Brokerage firm CLSA has retained buy rating on Dish TV India on the back of positives from merger with Vd2H merger.
Sudarshan Sukhani of s2analytics.com advises shorting Idea Cellular and Dish TV India.