Dish TV falls 5% after promoters reduce stake in September quarter

The latest shareholding pattern available on the exchanges showed that the stake of promoter and promoter group fell to 55.27 percent at the end of September quarter 2019, against 57.52 percent as of June this year.

Shares of Dish TV fell more than 5 percent intraday on October 22 after

the promoters of the company reduced their stake in the quarter ended September 2019.

The latest shareholding pattern available on the exchanges showed that the stake of promoter and promoter group fell to 55.27 percent at the end of September quarter 2019, against 57.52 percent as of June this year.

Among others, Deutsche Bank Trust Company Americas cut its stake in the company to 8.22 percent from 9.34 percent earlier QoQ.

However, Indian private equity investor and philanthropist Ashish Dhawan picked up 1.57 percent stake during the quarter, while Aditya Birla Sun Life Equity Fund increased stake by 0.18 percent and Foreign Portfolio Investors also raised their stake to 12.51 percent from 11.58 percent QoQ.

The stock corrected nearly 60 percent in last six months amid corporate governance issue at group level. It was quoting at Rs 15.80, down Rs 0.85, or 5.11 percent on the BSE at 1303 hours IST.

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