Dish TV zooms over 100%, Zee Entertainment surges 70% from January lows

Shares of Essel Group companies – Dish TV India and Zee Entertainment Enterprises (ZEEL) – have moved higher by 10 per cent on the BSE on Tuesday in an otherwise subdued market.

ZEEL has rallied 10 per cent to Rs 490, its highest level since December 18, 2018, on the BSE. The stock soared 70 per cent from its January 25, 2019 low of Rs 289 touched in intra-day trade.

Dish TV India has moved higher by 6 per cent at Rs 39.65, surging more than 106 per cent from January 28 low of Rs 19.25 on the BSE.

On January 25, 2019, the stock of ZEEL tanked 33 per cent after a report in The Wire suggested a link between Essel Group, the promoter of ZEEL, and Nityank Infrapower, a firm being investigated for suspicious deposits after demonetisation. The stock of Dish TV India, the country’s largest direct-to-home (DTH) company had touched a 10-year low on January 28, slipping 43 per cent in two trading sessions after lenders invoked the pledged shares.