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Dish TV Shares Hit Upper Circuit After Hindustan Times Buys Stake

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In Tuesday's session, shares of Dish TV India were trapped in the 10% upper circuit limit at Rs 21.31, a new 52-week high on the BSE, following a significant stake purchase by Hindustan Times. The stock of Dish TV has risen 19% in the last two trading sessions after Hindustan Times purchased 20 million shares on the open market on Monday.

 
Dish TV Shares Hit Upper Circuit After Hindustan Times Buys Stake

The Hindustan Times purchased 20 million copies of the newspaper in a bulk transaction on the National Stock Exchange today for Rs 19.22 each. On the NSE, Monday, Dish TV's stock finished 8.4% higher at Rs. 19.4.

The following are the other important bulk and block deals that occurred on Monday on the NSE and BSE.

As of June 30, 2021, HT Media was owned by Hindustan Times, a KK Birla group company. In intra-day dealings on the NSE, HT Media's shares jumped 12% to Rs 27 on strong volume. With a combined 1.03 million equity shares changing hands on the NSE and BSE, trading volumes at the counter more than five-folded.

Meanwhile, Dish TV India, a broadcasting and cable television operator, has risen 55% in the last five trading days after YES Bank issued a notice on September 6 ordering the company's top management, including managing director Jawahar Lal Goel, to go.

Dish TV reported in an exchange filing on Monday, September 9, 2021, that YES Bank sent special notices to the business on September 3, 2021, via an e-mail dated September 4, 2021.

Dish TV said it is reviewing the above-mentioned Special Notices for any additional approvals that may be required, including the steps to be taken to have the proposed new Directors' candidacies cleared by the necessary Authority, the Ministry of Information and Broadcasting, as prior approval from the Authority is a mandatory requirement, it added.

Read more about: dish tv hindustan times
Story first published: Tuesday, September 14, 2021, 11:35 [IST]
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