Global research house, Citi has announced that it has upgraded the shares of direct to home (DTH) service provider, Dish TV to a 'Buy' rating.

The research giant also said that it is revising its target price of the shares of Dish TV to Rs. 77. Citi said that the company is likely to benefit from an 2 per cent increase in set-top box prices in February and also from the increase of 10 per cent in subscriber pack prices that are set to come into effect from April.

Dish TV had announced that it will increase the prices of subscriber pack by 10 per cent from April 4, 2013. The company currently offers service with basic pack price of Rs. 155 per month for areas in south India and at Rs. 200 per month for the rest of the country. The company is likely to gain from the mandatory switch to digital television platform by the government in increasing number of cities across the country.

The shares of the company were trading 5.16 per cent higher at Rs. 67.20 on Bombay Stock Exchange (BSE). The shares had recorded an increase of 4.67 per cent in the previous trading session to Rs. 63.90.