Dish TV India Gains 7 Percent As CLSA Maintains Buy

Shares of Dish TV India rose 7.5 percent intraday as broking house CLSA has maintained buy call the stock with a target of Rs 70 per share.

The company has migrated 90 percent of its 24 million subscribers to TRAI’s new pay-TV regime, said CLSA.

The key catalyst will be the impending Essel group deleveraging. The stock valuation is compelling at 2.5x EV/EBITDA, while the risk-reward is favourable at current levels, it added.

At 11:28 hrs Dish TV India was quoting at Rs 36.45, up Rs 2.05, or 5.96 percent on the BSE.

The share touched its 52-week high Rs 81.70 and 52-week low Rs 19.25 on 13 April, 2018 and 28 January, 2019, respectively.

Currently, it is trading 55.57 percent below its 52-week high and 88.57 percent above its 52-week low.—Money Control