Buy Dish TV With Stop Loss Of Rs 60
Technical analyst Puneet Kinra of Bonanza Portfolio has maintained 'buy' rating on Dish TV India Limited stock to achieve a target of Rs 70.
The analyst said that the stock can be purchased between Rs 63-66 with a stop loss of Rs 60.
The stock of the company, on March 24, closed at Rs 66 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 77.35 and a low of Rs 35.75 on BSE.
Current EPS is -2.00.
Dish TV India Ltd's scrip surged 4% on March 24 to end at Rs 66 on a day when the 30-share index BSE Sensex surged 0.8%.
Mr. Salil Kapoor, chief operating officer of the company, stated that the company should have 1.1 million-plus subscribers during the existing quarterly period.
Dish TV had refreshed guidance to about 3 million subscribers from 2.5 million previously, but is now anticipating ending the year with over 3.5 million gross additions.
That seems to have triggered the boost in the price of the company's shares.
The company appended around 1.1 million subscribers during December quarter also.
In addition, the company is eyeing to exit the existing financial year with an Arpu of Rs 155 per month.
The company's Arpu during the Oct-Dec period remained at Rs142 per month, up from Rs 139 registered during the July-September period.