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Shares of Dish TV India Ltd dropped as much as 8.1 per cent to Rs 77. The stock hits its lowest since November 23.
Dish TV stock posted biggest intraday percentage loss since July 21. About 15.8 million shares traded, about 2.7 times the 30 day average of 5.9 mlillion.
The direct-to-home operator said it is evaluating the impact on rights, and obligations under its merger deal with Videocon d2h Ltd following insolvency proceedings against certain entities of Videcon Group.
Dish TV and Videocon d2h had announced a merger in November 2016, which they earlier expected to close by December 27, 2017. In a December 22 filing, the company told the exchanges that necessary filings around the deal closure would be delayed further.
Videocon d2h said it is unable to notify the effective date of scheme with Dish TV until final views are taken jointly by the company and Dish TV.
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