India's Dish TV hits near two-week high; chairman exits

Dish TV India

20/09/2022 09:40

** Shares of broadcast satellite service provider  DSTV.NS 
surge as much as 9.82% to 18.45 rupees - their highest since
Sept 7
    ** DSTV posts biggest intraday pct gain since Sept 6 in
second straight session of gains
    ** Announces resignation of Chairman Jawahar Lal Goel (https://bit.ly/3BTDCBx)
    ** Co said earlier this month that Goel would not seek a
reappointment, signalling a win for top shareholder Yes Bank
 YESB.NS  in its push for a board overhaul  urn:newsml:reuters.com:*:nL4N3081EQ
    ** Yes Bank, which holds an about 25% stake in Dish TV, has
been pushing for a board reconstitution, including the removal
of Goel, among other members, citing corporate governance issues
    ** In June, Goel resigned as the managing director after
shareholders rejected a proposal for his reappointment
    ** YESB shares up as much as 3.06%, snapping five sessions
of losses
    ** More than 29 mln DSTV shares traded by 0818 GMT, 2.8
times their 30-day avg
    ** Up to last close, DSTV stock had fallen 8.9% this year

 (Reporting by Rama Venkat in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))