Ways2Capital Reviews : Rakesh Jhunjhunwala’s Firm Buys 0.7% Stake In Dish TV For ~Rs93cr

As per the bulk deal data uploaded on NSE, Rakesh Jhunjhunwala’s firm bought 1.3cr shares of Dish TV at Rs71.3 per share. The shares were purchased through his firm Rare Enterprises. The total value of the deal is ~Rs93cr. However, this does not change the fundamental of the company.

Dish TV, part of the Essel Group, has a net subscriber base of ~23mn. In FY18, ~91% of its revenue was generated from subscription revenues. Due to its merger with Videocon, subscriber base is expected to reach to 32.6mn over FY18-20E. Further, ARPU CAGR of 10% is expected over the same period owing to ala carte offerings (resulting in some up-trading among low-ARPU subscribers).

Dish TV India Ltd ended at Rs75 up by Rs1.6 or 2.18% from its previous closing of Rs73.40 on the BSE. The stock traded above its 200 DMA.
 
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About Bhoomi Desai

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