Cable stocks surge on digitisation ordinance

MUMBAI: The market value of the listed cable companies got a boost after the government approved an ordinance on digitisation of cable TV.

Investors evinced interest in the cable companies and the only listed direct-to-home (DTH) firm Dish TV.

Wire & Wireless (India) Ltd (WWIL) and Hathway Cable & Datacom were the biggest beneficiaries on Thursday as their stocks surged 20 per cent and 10 per cent jump respectively.
 
WWIL shares closed at Rs 8.49 apiece on the BSE, 19.92 per cent higher to the previous day’s close. Hathway shares closed at Rs 101.75, up 10.75 per cent.

The other listed MSOs, however, could not be tpart of the rally. Hinduja Ventures, which owns IndusInd Media & Communications Ltd (IMCL), rose 2.06 per cent to close at Rs 316.4 per share.

Shares of Den Networks closed at Rs 82.05, up by just were 0.8 per cent.

Meanwhile, Dish TV shares closed at Rs 80.3, up 3.21 per cent on the BSE.