India's Hathway Cable, DEN rise on Reliance's fibre broadband plan

Den Networks

14/08/2019 05:56

** Shares of cable TV and broadband service providers
Hathway Cable and Datacom Ltd  HAWY.NS  and Den Networks Ltd
 DENN.NS  rise as much as 15.6% and 7%, respectively
    ** Reliance Industries  RELI.NS  on Monday unveiled plans to
launch high-speed internet services in India, a tie-up with
Microsoft  urn:newsml:reuters.com:*:nL4N25815S
    ** Reliance Industries owns a 51.3% stake in Hathway Cable
and 66% in Den Networks  urn:newsml:reuters.com:*:nL3N1WX4B2
    ** 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 700 rupees to 10,000 rupees per month
    ** Hathway stock surges to near 3-mth high, while DEN stock
jumps to a 4-mth high
    ** Up to last close, Hathway has lost 23% this year, while
DEN is down 5%

 (Reporting by Harish Bhaskar in Bengaluru)
 ((Harish.Bhaskar@thomsonreuters.com; +91 9886782831; Reuters
Messaging: harish.bhaskar.thomsonreuters.com@reuters.net))