India's Dish TV jumps; CLSA hikes TP on 'cheap' valuations

Dish TV India

16/02/2024 09:18

** Shares of Dish TV India  DSTV.NS  up 10% at 24 rupees,
set for biggest daily pct rise since Jan. 5
    ** CLSA retains "outperform" rating on the stock on
attractive valuations, raises TP to 24 rupees from 18 rupees
earlier
    ** But cuts FY 2024-26 revenue, EBITDA forecasts by 18%-37%
    ** Says DSTV's debt repayment of about 32 bln rupees from
peak and being debt free is a positive
    ** Expects subscriber numbers boost from new tariff order
3.0, promotion of new set-top boxes combining OTT and linear TV
    ** Adds Reliance Industries  RELI.NS  reportedly looking to
acquire 30% in Tata Play from Walt Disney  DIS.N  is also likely
catalysts for DSTV
    ** Stock set for third consecutive session of gains if trend
holds; up 28% so far this year

 (Reporting by Yagnoseni Das in Bengaluru)
 ((Yagnoseni.Das@thomsonreuters.com; +91 6001289066;))