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The Centre’s decision to hike in FDI for all TV distribution platforms from 49 per cent to 74 per cent boosted stocks such as Den Networks, Hathway Cable & Datacom, Wire & Wireless and Dish TV.
These stocks gained between one and five per cent on Monday’s trade.
According to analysts, the FDI move will usher in digitisation quickly. Analysts estimate about Rs 30,000 crore investments required for the entire digitisation process, and relaxation of FDI limits will be critical for these companies to fund their capital expenditure requirements.
“Now we expect the process of digitisation to speed up significantly in the coming months,” an analyst with domestic brokerage said.
badrinarayanan.ks@thehindu.co.in
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