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Dish TV India shares had continued their northbound journey, hitting a two-year high of Rs 19.70 on a railing as much as 10 per cent on the Bombay Stock Exchange in intra-day trades in an otherwise subdued market. The stock of the broadcasting & cable TV operator was quoting higher for the eighth straight trading session and has rallied 56 per cent during the same period. It has been trading at its highest level since September 2019.
In the morning trade, the stock was trading 4 per cent higher at Rs 18.66 on the BSE, as compared to a 0.41 per cent decline in the S&P BSE Sensex. The counter saw massive volume with a combined 44.47 million equity shares having changed hands on the NSE and BSE until the writing of this report.
In the past week, the share price of Dish TV India has zoomed 30 per cent after YES Bank sent a notice to the company to remove the top management, including the managing director Jawahar Lal Goel.
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YES Bank is the largest shareholder of Dish TV India and holds 471.91 million equity shares, representing 25.63 per cent of the paid-up equity share capital of the company. The annual general body meeting of Dish TV India is scheduled to be held on September 27, 2021.
Dish TV, in an exchange filing on September 9, 2021, said YES Bank vide its email dated September 4, 2021, has sent special notices dated September 3, 2021, to the company.
Stock Covered in the news
