Stocks

Hathway Cable, DEN rise on Reliance fibre optic broadband plan

Reuters | Updated on August 14, 2019 Published on August 14, 2019

hathway

Shares of cable TV and broadband service providers Hathway Cable and Datacom Ltd and Den Networks Ltd rise as much as 15.6% and 7%, respectively

Reliance Industries on Monday unveiled plans to launch high-speed internet services in India, in tie-up with Microsoft

Reliance Industries owns a 51.3% stake in Hathway Cable and 66% in Den Networks

Jio, which has crossed the 340 mln subscriber mark, will launch Jio GigaFiber broadband services next month

The service will include access to television channels, fixed-line telephone calling and video conferencing and will be priced between Rs 700 to Rs 10,000 per month

Hathway stock surged to near 3-month high, while DEN stock jumped to a 4-month high

Up to last close, Hathway has lost 23% this year, while DEN is down 5%.

Published on August 14, 2019
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