Pace in India talks

The Saltaire-based digital set top box maker is believed to be talking to an Indian pay-television provider about a key contract.

Reports said Pace is working on a set-top box for Tata Sky, a joint venture between Indian conglomerate Tata and News International-owned Star TV.

Broker Seymour Pierce, said this should serve as a reminder to the market that there are new and growing markets for the products that Pace supplies.

"We continue to regard the shares as undervalued," said analysts at Seymour Pierce, repeating its "buy" rating and 253p price target for Pace.