Shares were acquired on invocation of pledge subsequent to default/breach of terms of loan to Dish TV India Limited, the company said.
DishTV, promoted by Essel Group, has reportedly begun talks with a global financial investor.
Dish TV said its board at a meeting held on December 12 considered and approved re-appointment of Goel as MD for a period from December 17, 2019 to March 31, 2020
Bharti Airtel, promoters of Dish TV and private equity firm Warburg Pincus have agreed to merge DTH operations of Airtel and Dish.
Trends on SGX Nifty indicate a positive opening for the broader index in India, with a 17.5 points gain, or 0.14 percent. Nifty futures were trading around 12,124 on the Singaporean Exchange
Net Sales are expected to decrease by 41.4 percent Y-o-Y (up 0.9 percent Q-o-Q) to Rs. 935 crore, according to Kotak.
The rollover in Nifty for September series stood at 68.76 percent, which was below its quarterly average of 75.34 percent.
Net Sales are expected to decrease by 8.5 percent Y-o-Y (up 8.3 percent Q-o-Q) to Rs. 1,515 crore, according to Kotak.
Company said CARE Ratings has revised the rating for the banking facilities of the company from CARE A3 to CARE A3+
If the deal goes through, it would be the second biggest merger in the Indian DTH space
Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 29 points or 0.25 percent. Nifty futures were trading around 11,641-level on the Singaporean Exchange.
The breadth of the market favoured the declines with 639 stocks advancing and 1076 declining while 343 remained unchanged. On the BSE, 913 stocks advanced, 1565 declined and 136 remained unchanged.
DishTV's total expenses were also down 8.01 per cent to Rs 1,483.13 crore, compared with Rs 1,612.36 crore a year ago.
Essel Group’s management has successfully arrived at an understanding with lenders which are having a pledge on the shares held by the promoters, the group said in a release.
The top losers from the NSE included names like Zee Entertainment which fell 4.5 percent followed by ICICI Prudential Life Insurance which shed 2 percent while Hindustan Zinc and Ashok Leyland were the other losers.
The breadth of the market favoured the advances with 899 stocks advancing and 636 declining while 521 remained unchanged. On the BSE, 965 stocks advanced, 697 declined and 109 remained unchanged.
64 stocks have hit new 52-week low including names like Amtek Auto, Bharat Wire Ropes, Gateway Distriparks, Dena Bank, Gujarat Pipavav Port, Jamna Auto, LEEL Electricals, Orchid Pharma and Tata Steel among others.
58 stocks in the S&P BSE Small-cap index rose 10-40% in the week gone by which include names like Welspun Enterprises, Dhampur Sugar, Dish TV, and BEML.