Shares of Dish TV India hit a fresh 11-month high of Rs 22.30 on Friday as the stock rose 10% on weaker BSE markets. The stock has surged 46% in the past week after Jawahar Lal Goel resigned from the company’s board.

“Jawahar Lal Goel, Chairman and Director of the Company, in his letter dated September 19, 2022, has tendered his resignation to the Company’s Board of Directors and its committees, effective after market close on September 19, 2022,” Dish TV said in an exchange of documents said in. Meanwhile, Dish TV’s annual general meeting is scheduled for Monday, September 26.

Shares of the TV broadcasting and software production company have risen 92% over the past month, while the S&P BSE Sensex has lost 1.2%.

Today, it is trading at its highest level since September 2021, near its 52-week high of Rs, 22.95 hit on September 27 2021, at 12:38 pm. Dish TV shares rose 4% to Rs 21.19, while the S&P BSE Sensex fell 1.4%.

Dish TV India is one of the leading players in the direct-to-home (DTH) market. The company has a strong pan-India presence in urban, rural and semi-urban areas with several independent brands, including Dish TV, Zing and d2h. These brands have strong brand equity with a wide range of SD/HD channels and value-added services across price points.

“The existence of multiple content delivery platforms is seen as an opportunity for Dish TV. The company is actively looking beyond modern products, hybrid boxes and the OTT platform ‘Watcho‘ and is working hard to find new ways to serve existing and new users. With the continued focus on technology, customer focus, lean balance sheet and optimising cost structure, the company is in the best position to capitalise on emerging opportunities,” Dish TV said in its FY22 annual report.

Last month, Dish TV agreed to add two of Yes Bank’s nominees to its board, and it considered another nominee from the bank on August 30. These include Girish Paranjpe, Arvindnachya Chandranachya and Haripriya Padmanabhan.