Thursday, February 19, 2009

Dish TV zooming

Dish TV firmly in the picture on hopes of cut in license fee 

Meanwhile, the BSE Sensex was up 19.59 points, or 0.22%, to 9034.77.

On BSE, 33.71 lakh shares were traded in the counter. The scrip had an average daily volume of 14.17 lakh shares in the past one quarter.

The stock hit a high of Rs 27.40 and a low of Rs 25.25 so far during the day. The stock had a 52-week high of Rs 75.46 on 19 February 2008 and a 52-week low of Rs 11.75 on 27 October 2008.

The stock had outperformed the market over the past one month till 18 February 2009, rising 37.04% as compared to the Sensex's 3.31% decline. It had also outperformed the market in the past one quarter, soaring 72.55% as compared to the Sensex's rise of 0.87%.

The mid-cap direct-to-home operators has an equity capital of Rs 94.64 crore. Face value per share is Rs 1.

The government is reported to have proposed a reduction in in licensing fees on direct to home players to 6% of the gross revenue, from 10% at present. The cut is likely to be announced soon.

The direct-to-home (DTH) industry believes its losses will double if the government fails to provide sops, like reduction in licencefee and relief from multiple taxation.

The interim budget on Monday, 16 February 2009, did not announce any measures that could provide relief to any sector.

Dish TV India reported a net loss of Rs 118.06 crore in Q3 December 2008 as against a net loss of Rs 116.44 crore in Q3 December 2007. Sales rose 72% to Rs 192.73 crore in Q3 December 2008 over Q3 December 2007.

Dish TV India offers direct broadcast satellite subscription television service in India.

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