Cable operator shares rally, Den Networks surges 6%

Shares of cable operators such as Den Networks, Siti Cable Network and Hathway Cable and Datacom have rallied up to 6% in late noon deals on the Bombay Stock Exchange (BSE).

TV broadcasters and multisystem operators (MSOs) are gearing up to meet the deadline for mandatory switching from analogue to digital services in the National Capital Region and another 30-odd cities nationwide.

The government has set March 31, 2013 as the second phase of digitisation of cable TV.

Information & Broadcasting Secretary Uday Kumar Varma asserted that the government is firm on the March 31 deadline of the phase II of digitisation in 38 towns.

Among the individual stocks, Siti Cable Network has surged 7.4% to Rs 25.25, followed by Den Networks (up 5.8% at Rs 199) and Hathway Cable and Datacom (up 4% at Rs 259).