India News
Search Web Directory
News Home
Dish TV India zooms 15% after clarification on CARE ratings downgrade
Posted on 9th December 2019
Shares of Dish TV India surged 15 per cent to Rs 14.44 on the BSE on Monday after the company said the default in debt repayment was on account of a temporary cash shortfall due to peak payment commitments to suppliers.

"The Company's deferral to service the loan amount is due to bunching of repayment obligations and utilization of funds for other business requirements including, both capital expenditure and payment of operating liabilities to broadcasters and suppliers," Dish TV India said in a regulatory filing.

The company issued the statement after rating agency Care Ratings downgraded the rating of the company's short-term bank facilities to 'CARE D' from 'CARE A4+'

"The revision in the rating assigned to the bank facilities of Dish TV India takes into account default in payment of short term loan due on November 28, 2019," Care Ratings said in a press release on November 22.

"The financial profile stands weak on account of stretched liquidity position due to sizeable debt repayments in the near term and the company would continue to remain in the investment mode. In addition, impairment on goodwill as on March 31, 2019 has resulted in decline in reported net-worth", it said.

However, Dish TV India, on Friday after market hours, said it has been drawing on its internal cash accruals to fund its capital expenditure for more than six quarters now.

Debt and interest payment obligations falling due after the particular incident of non-service have also been fulfilled on time.

While being cautious about its cash expenditures, the company also remains optimistic about improvement in its liquidity situation going forward, it said.

The Company is in touch with its banking partners and hopes to get alternate credit facilities to finance its regular capex so as to normalize the utilization of its cash flow towards debt repayment, it added.

Meanwhile, on Friday, the stock of Dish TV India had tanked 15 per cent to Rs 12.56 on the BSE after the company informed the exchanges that a lender had invoked 3.12 million pledged shares.
"On December 4, 2019, IDBI Trusteeship Services invoked 3.12 million equity shares representing 0.17 per cent of promoter holding pledge for collateral of loan," the company said in a regulatory filing.

In the past two weeks, the stock has underperformed the market by falling 33 per cent, as compared to 1 per cent decline in the S&P BSE Sensex till Friday.

At 10:33 am, Dish TV India was up 9 per cent at Rs 13.66 on the BSE, as compared to 0.02 per cent decline in the benchmark index. A combined 55 million shares have changed hands on the counter on the NSE and BSE so far.
Related Companies: Bombay Stock Exchange - BSE   

Other Latest News
'No desire for any post': Sachin Pilot calls truce after meeting with Gandhis, says wanted self-respect to remain intact
Posted on 11th August 2020
Former Rajasthan Deputy Chief Minister Sachin Pilot on Monday called truce with the Congress party after a month of high-pitched political drama that also played in the High Court and the Supreme Court. Pilot, who was sacked as deputy CM and as state unit chief, said he has no desire for any post and just wanted the self-respect to remain intact.

His statement came after a meeting with Rahul Gandhi and Priyanka Gandhi Vadra, and announcement of a three-member panel by party chief Sonia Gandhi.

Former President Pranab Mukherjee put on ventilator support after brain clot surgery
Posted on 11th August 2020
Former President Pranab Mukherjee is on ventilator support after undergoing brain surgery at the Army Research and Referral hospital, where he was admitted on Monday morning after testing positive for COVID-19, sources said on Tuesday.

On a visit to the hospital for a separate procedure, I have tested positive for COVID-19 today. I request the people who came in contact with me in the last week, to please self isolate and get tested for COVID-19, Mukherjee tweeted on Monday afternoon.

UP: Chased by eve-teasers, US scholar girl dies in Bulandshahr road accident
Posted on 11th August 2020
In what comes as a tragic end to a bright life, Sudiksha, a girl from Uttar Pradesh's Gautam Buddh Nagar who had received Rs 3.83 crore scholarship to study in the US, died after falling off from a bike in Bulandshahr after being chased by eve-teasers. Sudiksha had returned to India and was going to Sikandrabad with her uncle Manoj Bhati to meet her relatives.

According to reports, the eve-teasers had started performing stunts near Sudisha due to which her uncle was facing difficulty in riding the bike and was getting imbalanced.

Kerala plane crash: Air India praises Malappuram residents for saving lives
Posted on 10th August 2020
Air India Express has expressed its gratitude to people of Mallapuram, Kerala for help in a lane crash in which 18 people died Friday night.

In a tweet, the Air India Express said, Taking a bow to HUMANITY! A standing ovation from our hearts to the PEOPLE OF MALAPPURAM, Kerala, who had showered us with kindness & humanity during the uncertain incident. We owe you a lot! #ExpressGratitude.

Vodafone-Idea's fate hinges on the Supreme Court's AGR verdict today
Posted on 10th August 2020
For Vodafone Idea Ltd (VIL), the future course is closely pegged to today’s Supreme court decision on the issue of tenure of payment of adjusted gross revenue (AGR) dues.

In the last hearing, held in July, the court had ended some confusion by clearly telling VIL and other operators that there would be no reassessment of the AGR dues calculated by the department of telecommunications (DoT). Operators had earlier claimed, based on their self-assessment, that the payable amount should be far less.

» Post a FREE Classified Advertisement
Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Classifieds Website.
Jobs in India India Real Estate Automobiles Matrimonials Beauty & Fitness

Add a comment for Dish TV India zooms 15% after clarification on CARE ratings downgrade
Please only use this form to enter comments on the above company. All comments are reviewed before they are displayed on the web site. Not all comments may be displayed. Check back with us to see if your comments have been displayed.
If you want us to email the comments posted by users, please Subscribe by email
Security Code*

Be the first person to write a business review for Dish TV India zooms 15% after clarification on CARE ratings downgrade

Most Read News

Ayodhya decked up for Ram temple ceremony, PM to perform bhoomi pujan

Gold prices at Rs 59,300 per 10 gm, silver jumps to Rs 74,210 a kg

Mumbai gets highest downpour of season in 12 hours with 215.8 mm rains

Kerala plane crash: Air India praises Malappuram residents for saving lives

Zydus Cadila to begin phase II Covid-19 vaccine clinical trials from Aug 6

More India News

Photo Gallery

Tata Nano(13 Images) Tata Nano
Kathakali(10 Images)Kathakali
Varun Tej(12 Images) Varun Tej
  India Web Directory
Business Profiles
Automotive Directory
IT/ITES/BPO Directory
Hotel Directory
Health Directory
Business Directory
Gems & Jewellery
Education Directory
Real Estate Directory
Agriculture Directory
Logistics Directory
Yellow Pages
NRI Guide
Photo Galleries
Global Web Directory
*** FREE India Classifieds
Order Premium Listings
Submit a Site
Business Reviews
About us
Link to us
Contact us
Google Search Keywords: India Catalog, IndiaCatalog, India Web Directory
    © 1999 - 2020
    All Rights Reserved
Privacy Statement