 "Broadband stocks fall as RIL announces launch of JioGigaFibre")
Shares of broadband and cable TV operators like Hathway Cable & Datacom, Den Networks and Siti Networks have tanked up to 18% after the Reliance Industries announced the launch of Jio Gigafibre.
Hathway Cable & Datacom hit a 52-week low of Rs 19.85, down 18% on the BSE in intra-day trade. Den Networks plunged 11% to Rs 66.05, trading close to its 52-week low of Rs 65 touched on August 11, 2017, while Siti Network was down 5% at Rs 13.12 on the BSE. Bharti Airtel too was down 1.1% at Rs 362.30.
Reliance Industries' Chairman and Managing Director Mukesh Ambani today announced plans to launch ultra high speed fixed line broadband services for homes and enterprises. The service will be called 'JioGigaFiber'.
Speaking at the company's 41st annual general meeting, Ambani said the service will provide ultra high definition entertainment on TV, voice activated assistance, virtual reality gaming and digital shopping as well as smart home solutions.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%