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Cable stocks zoom on buzz of investment by RIL in the sector

16 Jan 2012 Evaluate

Den Networks was currently trading at Rs 65.65,up by 5.65 points or 9.42% from its previous closing of Rs 60 on the BSE.

Hathway Bhawani Cabletel & Datacom was currently trading at Rs 9.09, up by 0.78 points or 9.39% from its previous closing of Rs 8.31 on the BSE.

Hathway Cable & Datacom was trading at Rs 136.60,up by 18.15 points or 15.32% from its previous closing of Rs 118.45 on the BSE.

There is a report that Reliance Industries is planning to pick up a minimum 26 per cent stake in leading cable operators, including multi-system operators. It was said that the company, India's biggest by market capitalisation, has approached Den Networks, Digicable Networks, Hathway Cable and Datacom, IndusInd Media and Communications and several independent multi-system operators for stake buy.

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