Hathway, Den stocks jump amid RIL stake buy buzz

MUMBAI: It seems that India’s richest billionaire Mukesh Ambani’s name is enough to shake up the media industry.

After the deal with TV18Network18 and ETV, now the buzz in the media is that Ambani is looking to buy 26 per cent stake in multi-system operators and cable operators.

Though Hathway Cable & Datacom has denied of having any such talks with Reliance Industries Ltd and Den Networks declined to comment on speculative reports, the listed cable companies have seen a boost in their stock prices.

Hathway was the biggest beneficiary on Monday as its shares closed at Rs 132.80 on BSE, up 12.11 per cent from its previous close. Similarly, Den Networks scrip jumped 6.25 per cent to close at Rs 63.75.

Media reports stated that RIL is eyeing a minimum of 26 per cent stake MSOs and independent cable operators with a large subscriber base. A report in a leading financial daily mentioned that Den Networks, Digicable Networks, Hathway, IndusInd Media and Communications (InCable) as well as some “independent multi-system operators and smaller operators with good regional presence” could be approached by RIL as part of its broadband TV business plans.

Later in the day, Hathway said in a clarification to the BSE that nobody from RIL has ever approached the company or anybody associated with the company and that “the two newspaper reporters never called anybody in our organisation. Hence, the newspaper report is baseless and untrue in relation to whatever has been quoted with respect to our Company."

Den Networks also said that it is the company‘s policy not to comment on speculative media reports and any information on strategic investments will be brought to the notice of the stock exchange as is required under the provisions of listing agreement.

Meanwhile, the other listed cable company Wire & Wireless (India) Ltd (WWIL) saw a jump of 3.68 per cent and closed at Rs 7.32 per share.

Hinduja Ventures, which operates InCable, closed at Rs 318, up 2.63 per cent on Monday.

Shares of RIL, however, closed 2.55 per cent lower at Rs 713.40.

Latest Reads
Livestreaming App SWOO sees momentum in India; Launches Trivia Format in India

SWOO, a leading global livestreaming platform established in Middle East, today announced the launch of its SWOO TRIVIA SHOW – a celebrity hosted live video streaming game show for Indians. SWOO is a user friendly, engaging and feature-rich live broadcasting app available across Android/ iOS/ Web...

Technology Software Applications
TiVo exits STB business

MUMBAI: TiVo is exiting the manufacturing, sales and distribution of set-top boxes to a yet-undisclosed third party, the company has said.

Technology Hardware Set-top Boxes
IET India IoT Panel joins hands with exhibitions india group for the 3rd edition of IoT india congress

IoT India Congress is India’s Platform of Platforms for the Internet of Things conceptualized by IET India IoT Panel, a think tank constituted by the Institution of Engineering and Technology (IET) India. The 3rd edition of IoT India Congress will be hosted in collaboration with India’s leading...

Technology Software Firmware
Tata Elxsi's Automation suite adopted by pan-European Media and Telecommunications Company

Tata Elxsi, a global design and technology services company, announced the licensing of its integrated test automation and monitoring suite ‘FalconEye’ to a pan-European media and telecommunications company for OTT automation and improving streaming performance.

Technology Software Firmware
Verimatrix recognized for contributions to latin american Pay-TV market with PRODU award win at NAB Show

LAS VEGAS: Verimatrix, a specialist in securing and enhancing revenue for network-connected devices and services, has received the PRODU Award for Best Pay-TV Technology Contribution on behalf of its MultiRights™ OTT solution. MultiRights helps service providers effectively navigate the modern OTT...

Technology Software Firmware
Amagi debuts machine-learning powered content-preparation suite

Amagi, a cloud-based technology provider for media processing, has launched Tornado, a machine learning-based content preparation service that enables TV networks and content owners to scale their operations and accelerate broadcast workflows.

Technology Hardware Components
Sharp and TiVo extend interactive program guide deal to power content Discovery across entertainment devices

MUMBAI: TiVo Corporation (NASDAQ: TIVO), a global leader in entertainment technology and audience insights, today announced that Sharp Corporation will further utilize TiVo’s G-Guide HTML across Sharp 4K smart TVs and Ultra HD Blu-ray recorders in Japan, TiVo’s G-Guide xD app and remote schedule...

Technology Hardware Components
HARMAN announces Priyanka Chopra as global brand ambassador

HARMAN International, a wholly-owned subsidiary of Samsung Electronics Co., Ltd. focused on connected technologies for automotive, consumer and enterprise markets, today announced that actress, singer, producer and philanthropist Priyanka Chopra has been named a global brand ambassador for the...

Technology Hardware Components
Etere HSM expands interoperability with Grass Valley

Etere HSM features an integration with Grass Valley that improves interoperability, streamlines connectivity, enables faster content processing and includes deep archive capabilities. Etere introduces a new integration layer between Etere Hierarchical Storage Management (HSM) and Grass Valley...

Technology Hardware Components

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories