Den Networks slips as govt extends cable digitisation deadline
Move will impact DTH players
Den Networks has dipped almost 10% to Rs 90.20 in opening deals on the National Stock Exchange, after the Information and Broadcasting Ministry extended the deadline for cable digitisation in four metros by four months from June 30 to October 31, 2012.
A delay in the digitisation of cable network will affect the direct-to-home (DTH) players, who are expecting an exodus from cable TV subscribers. Earlier, in May 2012, the Telecom Regulatory Authority of India (Trai), who is also a regulator for broadcasting sector, had asked every cable operator to put in place a consumer complaint redressal system with a toll-free number having a web based complaint monitoring system.
A combined 11,551 shares have changed hands on the counter in opening deals on the NSE and BSE.