Dish TV is 'ON'

Dish TV, which had closed yesterday at Rs.17.20, opened itself 5% higher at Rs.18.05, hitting the UC where it now stays frozen. Its 52-week high is at Rs.23.44.

The stock hit the roof on unconfirmed news that Bharti Airtel is in talks with the company for acquiring a majority stake.

Bharti Airtel and Dish TV as such have a combined market share of nearly 50% in the DTH space in India.

According to a report in Mint, the news is that Airtel has offered Rs 20 per share for 5.93% stake of the promoter group, while Subhash Chandra has not yet accepted the offer.