Stock below Rs 20 on the verge of breakout; well-known investors Ashish Dhawan and Mukul Agarwal hold stakes in this company!
Considering the above factors, market participants should be keeping this stock on their watchlist.
Dish Tv India Limited is India’s leading direct-to-home (DTH) Company and owns multiple individual brands like Dish TV, d2h and Watcho under its umbrella. The Company has a vast distribution network of over 2,700 distributors & around 200,000 dealers that span across 9,300 towns in the country.
The stock of Dish Tv traded at Rs 142.80 level in 2007, which is its all-time high, then the stock came tumbling down to a single digit of Rs 3.90 in 2020 and now it is trading at Rs 16.10. So, the stock has seen all.
From a technical standpoint, the stock has formed a Head and Shoulders (H&S) bottom. The Head and Shoulders bottom is known as major reversal pattern formed after a downtrend, with its completion making a change in trend. The pattern consists of three successive troughs with the middle trough also known as head being the deepest. It also consists of a neckline which is a horizontal or a flat boundary.
The stock is trading above its key short- and long-term moving averages. Also, the short-term moving average i.e., 20-DMA has recently crossed over the 50-DMA and interestingly both the moving averages are trending higher, which is positive for the stock.
As per the quarter ended March 2023, company has a shareholder pattern after Yes Bank transferred its 24.19 per cent stake to JC Flowers Asset Reconstruction Private Ltd. Other major shareholders are Deutsche Bank Trust Company Americas, HDFC Bank, IndusInd Bank and the cherry on the top is two ace investors’ Ashish Dhavan and Mukul Agarwal holds around 1.57 and 1.63 per cent, respectively.
Talking about the financial performance of the company for quarter ended March 31, 2023- on operational level the company posted a profit but after adding depreciation & interest on net level it has been posting losses.
Considering the above factors, market participants should be keeping this stock on their watchlist.