Acuité Ratings assigns credit ratings to Dish TV India Limited

'Acuité Ratings & Research Limited,' a SEBI Registered & RBI Accredited Credit Rating Agency, has assigned long-term rating of 'ACUITE-BB+' and short-term rating of 'ACUITE-A4+' respectively to the Bank Facilities and Commercial Paper of Dish TV India Limited, (BSE: 532839, NSE: DISHTV, LSE: DTVL).

Acuité has assigned the long-term rating of 'ACUITE BB+' (read as ACUITE double B plus) on the Rs.450.00 crore bank facilities of Dish TV India Limited (DTIL). The outlook is "Stable".

Acuité has also assigned the short-term rating of 'ACUITE A4+' (read as ACUITE A four plus) on the Rs.50.00 crore Commercial paper of Dish TV India Limited (DTIL).

The rating reflects established presence of DTIL in the domestic direct to home industry, a healthy subscriber base and extensive experience of the promoters. These rating strengths are partially offset by the susceptibility to regulatory changes in the industry directly impacting the operations of the group, sequentially declining subscriber base and intense competition in the industry.

DTIL is a Noida based company and is a pioneer in the direct to home (DTH) industry in India with the launch of their services in 2003. The company was incorporated in 1988 as the technical arm of the Essel group. DTIL also provides DTH infrastructure support services via its group companies Dish Infra Private Limited (DIPL) and C&S Medianet Private Limited (CMPL). Further, the dish group has expanded its reach overseas via Dish TV Lanka Private Limited (DLPL). In 2018, Videocon d2h Limited amalgamated with DTIL with the intent to expand the market share of the amalgamated entity along with improvement in the quality of services.

The company along with its subsidiaries forms the business group, hereinafter referred to as "Dish Group" comprising of Dish TV India Limited, Dish Infra Services Private Limited, C&S Medianet Private Limited and Dish TV Lanka Private Limited.

Shares of DISH TV INDIA LTD. was last trading in BSE at Rs.10.23 as compared to the previous close of Rs. 10.26. The total number of shares traded during the day was 2035204 in over 3306 trades.

The stock hit an intraday high of Rs. 10.68 and intraday low of 10.17. The net turnover during the day was Rs. 21105778.

Source : Equity Bulls

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