Dish TV stock falls over 12% as promoters reduce their stake in Q2

Shares of Dish TV, part of the Essel group, fell over 12 per cent on Tuesday after the promoters reduced their stake in the quarter ended September 30, 2019 (Q2).

The latest shareholding pattern, disclosed on Tuesday, shows that the stake of the promoter and promoter group fell to 55.27 percent at the end of Q2, against 57.52 percent held at the end of the April-June (Q1) period.

The promoters, who’ve been grappling with debt issues, have been cutting their stake in the company since the December 2018 quarter, when their shareholding stood at 60.83 per cent.