Dec 2, 2021

Shares of Dish TV India were locked at the 5 per cent upper circuit, at Rs 18.05 on the BSE on Thursday, on reports that telecom services provider Bharti Airtel is in talks with the former to buy majority stake in broadcasting & cable TV operator. The stock of Dish TV had hit a 52-week high of Rs 23.44 on September 15, 2021. Till 02:14 pm, a combined 7.19 million shares had changed hands and there were pending buy orders for 5.6 million shares on the NSE and BSE, the exchanges data shows. Currently, Dish TV India is trading under the T group on the BSE. In the T2T segment, each trade has to result in delivery and no intra-day netting of positions is allowed. On its part, Dish TV India has informed the exchanges that there is no information available with the Company which is required to be reported under extant SEBI Regulation (Regulation 30), which may have bearing on the stock price of the Company. Further, we would also state that the Company is not aware of the transaction which has been reported in the media. READ EXCHANGE FILING HERE According to media reports, Bharti Airtel is in early talks to acquire a majority stake in Dish TV India, a deal that would give it control of 50 per cent of DTH market in India. “We highlight that such newsflows had come earlier around 2 years back without fructification,” ICICI Securities said in a note. Meanwhile, according to a Business Standard report, the Supreme Court has stayed the first information report filed with the Uttar Pradesh police by Essel group founder Subhash Chandra against YES Bank, and officials of Videocon D2H. As part of its investigation, the UP police had frozen the voting rights on YES Bank’s stake held in Dish TV India. YES Bank wants to replace the current board of Dish TV with its own nominees as the lender is of the opinion that the board is siding with the Chandra family, whose stake in the company has decreased to 6 per cent. CLICK HERE TO READ FULL REPORT Dear Reader, Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance. We, however, have a request. As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed. Digital Editor