Rare Enterprises picked up 1.30 crore shares of direct-to-home operator Dish TV India for nearly Rs 93 crore, through an open market transaction.
Dish TV plans to invest around Rs 1,700 crore as capex in the current fiscal and strengthen both the brands across India, top officials said.
Star India is at loggerheads with Airtel Digital TV and Dish TV over subscription fee hike, with the broadcaster threatening to disconnect its channels.
Indian market slipped to close in the red for the week ending Friday. A look at some events which will guide the markets for the week:
Direct-to-home operator DishTV reported a consolidated net loss of Rs 18.55 crore for the third quarter ended December 2017.
Dish TV India jumped 3.93 per cent, Den Networks 3.61 per cent and Sun TV Networks 3.24 per cent on the BSE.
The stock plummeted 11.21 per cent to end at Rs 81.55 on BSE.
It has already received approval from Sebi, NSE and the BSE for the merger.
JSW Steel Limited
May bid for Arcelor-Mittal's Romanian plant
Gets DCGI's marketing nod for key cancer drug
Inks 5-year I.T. Infra deal with Nokia
BANK OF MAHARASHTRA
To raise Rs 3,000 Crore equity capital
Plans to launch 50 cvs this fiscal
Company may bid for Arcelormittal's Romanian plantco
Proposes investment of $500 Mn to upgrade steel manufacturing unit at Ohio, USA
Integrated steel manufacturing unit in Ohio, with potential capacity of 3 MTPA
Company gets marketing nod for Durvalumab drug from DCGI
Durvalumab is a patented product of AstraZeneca Global
Permission significant for patients with limited treatment options
Nokia signs 5-year global I.T. Infra & application services deal with company
Company will transition services from four incumbent vendors
Will build on strong existing engineering-centric partnership with this deal worth $500 Mn
BANK OF MAHARASHTRA
Gets shareholders' nod for raising equity capital upto Rs 3,000 Cr
Bank union requests govt to intervene in bank's arrests
AIBEA writes to DFS secy to step-in to save bank's reputation
May have rotating chairman till full time chairman is appointed
U.S. Investors of bank want Kochhar to quit
Investors will be confident if external candidate is appointed as CEO: Macquarie
TOI & ET REPORTS