India's Hathway Cable, DEN slide after Reliance Jio plans stake sale

Den Networks

26/03/2021 04:41

** Shares of cable TV and broadband service providers
Hathway Cable & Datacom Ltd  HAWY.NS  and DEN Networks Ltd 
 DENN.NS  fall as much as 8.22% and 6.25%, respectively, - their
lowest since June 
    ** Cos say Reliance Jio plans to sell 19.09% stake in HAWY
and 11.63% in DENN https://bit.ly/3w9iliD https://bit.ly/3w2li4o
    ** Floor price for sale at 25.25 rupees per share, an 11.71%
discount vs HAWY's close price of 28.60 rupees 
    ** Floor price for stake sale in DENN also set at discount
of 10.85% to 48.50 rupees per share vs last closing price of
54.40 rupees
    ** As of last close, HAWY is down 13.73% and DENN has fallen
12.40% this year 

 (Reporting by Rama Venkat in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))