Dish TV, Nelco, NDTV, Reliance Capital and 242 others freeze upper circuit

Shares of Dish TV India, Nelco, Tilaknagar Industries, D B Realty, Reliance Capital, Indostar Capital Finance, RattanIndia Power, Forbes & Company and New Delhi Television (NDTV) were among 245 stocks that locked in their respective upper circuit limit on Thursday in an otherwise weak market.

These stocks have gained in the range of 5 per cent to 20 per cent. In comparison, the S&P BSE Sensex was down 0.85 per cent at 59,032 points at 12:14 pm. Of these total 245 stocks, five stocks were from the frontline ‘A’ group and 33 stocks from ‘B’ group.

Rest, 91 stocks were from the ‘XT’ segment and 76 stocks from ‘T’ segment, the exchange data shows. XT consists of all those stocks which are only listed on BSE and settled on trade-to-trade basis. Other stocks, which are only listed on BSE, fall under the sub-category X.

Shares of Dish TV India were locked in 20 per cent upper circuit at Rs 14.46 amid heavy volumes. A combined 23.09 million equity shares, representing 1.3 per cent of the total equity, changed hands on the NSE and BSE.

On August 30, 2022, Dish TV announced that the Chairman Jawahar Lal Goel will vacate his position at the company’s upcoming Annual General Meeting (AGM) on September 26, 2022. Goel, whose proposal for reappointment as Managing Director was rejected by the shareholders in an extraordinary meeting (EGM) held in June 2022, did not reapply to continue as Chairman. CLICK HERE FOR MORE

That apart, shares of NDTV hit a multi-year high of Rs 490.60, up 5 per cent on the BSE. In the past six trading days, the stock of this TV broadcasting & software production company surged 34 per cent after Gautam Adani’s group initiated proposal to buy a majority stake in the company. CLICK HERE FOR MORE

Besides, shares of Tata Group Company, Nelco were locked in upper circuit for the fourth straight day, up 5 per cent at Rs 1,038.85 on the BSE. The stock rallied 33 per cent during the period, after the company inked pact with Intelsat to offer in-flight connectivity services in India.

Intelsat is the operator of one of the world’s largest integrated satellite and terrestrial networks and leading provider of inflight connectivity (IFC). On the other hand, Nelco is a part of the $128 billion Tata Group and is a leading satellite communication service provider in India. Nelco provides highly reliable data connectivity solutions across the country for the Enterprise, Aero IFC and Maritime sectors.

“This agreement is a welcome news for Intelsat’s airline partners and flyers as they will enjoy end-to-end broadband coverage on domestic and international aircraft flying to or from an Indian airport, as well as aircraft flying over the country,” Nelco said.

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