October 2018



Reliance Industries has a market capitalisation of over ₹ 8. lakh crore (@ share price of ₹ 1,277).

At this price, its market cap is more than the combined value of Bharti (Telecom + Towers + DTH), Avenue Supermarts (D-Mart), Flipkart, ZEEL, Sun TV & Dish TV put together, according to a report by Kotak Institutional Equities. RIL shares have risen 46% in the year so far. Kotak feels the share is over-priced and has recommended a sell with a target price of ₹ 985.


Bharti Airtel's DTH arm Bharti Telemedia has received an approval from the I&B ministry to transfer its 15% stake to private equity firm Warburg Pincus.

This is in accordance with the deal announced in December last year, under which Bharti Airtel would sell a 15% stake in Bharti Telemedia, while another 5% would be sold by another Bharti entity.

Interestingly, DTH was among Airtel's very few profitable businesses during Q1 FY19. It had a subscriber base of 14.65 million users (10% growth).


Hathway Cable and Datacom has raised close to ₹ 100 crore though allotment of equity shares to a promoter group entity on preferential basis.

"The board of directors of the company... approved allotment of 30,800,000 fully paid-up equity shares... the company to Hathway Investments, an entity forming part of the promoter group, at a price of ₹ 32.35 per share aggregating to ₹ 99.63 crore on preferential basis," Hathway Cable and Datacom said in a regulatory filing.

The company said, consequent to the preferential allotment, the total shareholding of the promoter/promoter group entities in the company now stands increased from 43.48% to 45.50%.


Z e e Entertainment Enterprises L i m i t e d (ZEEL) has a p p o i n t e d Rohit Gupta as its Chief F i n a n c i a l O f f i c e r (CFO). Gupta will report to ZEEL MD & CEO Punit Goenka.

In his new role, he will be spearheading the fiscal and financial management aspect of the company. He will also be responsible for the development of operational and financial strategy and monitoring of control systems designed to preserve the company assets.


Cable TV and Headend In The Sky (HITS) service provider IndusInd Media and Communications Ltd (IMCL) has narrowed its consolidated net loss by 35% to ₹ 219.8 crore for the fiscal ended 31 March.

Revenue jumped 23% to ₹ 591.3 crore. IMCL earned subscription revenue of ₹ 370.8 crore an increase of 36% since FY17.

The channel placement fees were down 16% to ₹ 95.3 crore. The income from the sale of STBs was ₹ 19.56 crore compared to ₹ 4.29 crore.

The pay channel costs increased 28% to ₹ 447.5 crore.

Transponder charges doubled to ₹ 27.8 crore. Employee cost stood at ₹ 49.3 crore.

IMCL benefited from the combination of the HITS and cable TV under a single company. IMCL had deployed 1.5 million STBs which was an increase of 29% over FY17.

IMCL along with its subsidiary companies has an active subscriber base of 4.6 million (up from 4 million a year ago).


Hotstar's CEO - Ajit Mohan has put in his papers. He will exit Hotsar this year end.

Mohan is shifting jobs as F a c e b o o k ' s M a n a g i n g Director & VP I n d i a o p e r a t i o n s today. He will join Facebook early next year. Significantly, Mohan will report directly to Facebook's USA headquarters, and not to the Asia Pacific regional office.

"India is one of the largest and most strategically important countries for Facebook. As we think about what it will take to achieve our mission of bringing people together and building community, we know that investment in India is critical. Ajit's depth of experience will help us to continue to have a positive impact in India across communities, organizations, businesses and with policy makers," said David Fischer, Facebook's VP - Business & Marketing Partnerships.

Prior to Hotstar, Mohan was with McKinsey & Co's New York office where he worked with media companies around the globe as well as served as a Fellow at the McKinsey Global Institute, where he focused on India's rapid urbanization. He is a graduate of the School of Advanced International Studies (SAIS) at Johns Hopkins University and the Wharton School at the University of Pennsylvania.


According to Dish TV chairman & MD (CMD) Jawahar Goel, the DTH platform has seen a sharp increase in its subscription c o l l e c t i o n s due to r e c h a r g e s through digital platforms.

Dish TV is trying every avenue to collect its payments digitally. It was the first DTH platform to sell subscriptions on Flipkart.

Dish TV also operates an Artificial Intelligence (AI) based chat for consumer complaints and enquiries.

"We are conscious of the fact that to remain a market leader, we need to ensure top class IT infrastructure and we are putting wholehearted efforts in deploying the best of technological advancements in our systems," Goel told the press.

Dish TV has launched hybrid STBs that will provide both - live DTH TV and OTT like Netflix or its own planned OTT service, seamlessly. The customer would switch between them as if surfing channels n