RIL-owned firms rally; TV18 Broadcast, Network18 soar over 60% in a month
Hathway Bhawani Cabletel & Datacom were locked in upper circuit for the 40th straight trading day
 "RIL-owned firms rally; TV18 Broadcast, Network18 soar over 60% in a month")
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Shares of Reliance Industries (RIL)-owned companies engaged in media, broadcasting & cable TV business have surged and rallied as much as 98 per cent in the past month on the back of heavy volumes.
Hathway Bhawani Cabletel & Datacom, TV18 Broadcast, Network18 Media & Investments, Den Networks and Hathway Cable & Datacom were all up in the range of 46 per cent to 98 per cent on the BSE in the past one month. Reliance Industrial Infrastructure and RIL were up 12 per cent and 11 per cent. In comparison, the benchmark S&P BSE Sensex was up 8 per cent during the same period.
Of these, Hathway Bhawani Cabletel & Datacom, TV18 Broadcast and Network18 Media & Investments are trading at their respective 52-week highs on the BSE.
Among individual stocks, Hathway Bhawani Cabletel & Datacom were locked in upper circuit for the 40th straight trading day. The stock up 5 per cent at Rs 32.55 on the BSE on Wednesday. The stock price has nearly doubled from the level of Rs 16.74. In the past two months, it has zoomed 307 per cent from Rs 8 on the BSE.
On sharp movement in price, TV18 Broadcast and Network18 Media & Investments on June 12, in separate regulatory filing clarified that there is no disclosure that should have been made in terms of SEBI regulations and which has not been made by the Company.
RIL, which holds controlling stake in these companies, also hit a record high of Rs 1,647.85 on the BSE on Tuesday. The stock recovered 90 per cent from its 52-week low of Rs 867.82 touched on March 23, 2020. The rally in RIL has been fuelled by the firm’s ability to garner 10 foreign investments in its subsidiary Jio Platforms for a whopping Rs 1.04 trillion, from leading global investors.
Foreign brokerages Morgan Stanley, Goldman Sachs and CLSA are bullish on RIL and have maintained 12-month target price of up to Rs 1,801 on the stock. CLICK HERE TO READ FULL REPORT
Hathway Bhawani Cabletel & Datacom, TV18 Broadcast, Network18 Media & Investments, Den Networks and Hathway Cable & Datacom were all up in the range of 46 per cent to 98 per cent on the BSE in the past one month. Reliance Industrial Infrastructure and RIL were up 12 per cent and 11 per cent. In comparison, the benchmark S&P BSE Sensex was up 8 per cent during the same period.
Of these, Hathway Bhawani Cabletel & Datacom, TV18 Broadcast and Network18 Media & Investments are trading at their respective 52-week highs on the BSE.
Among individual stocks, Hathway Bhawani Cabletel & Datacom were locked in upper circuit for the 40th straight trading day. The stock up 5 per cent at Rs 32.55 on the BSE on Wednesday. The stock price has nearly doubled from the level of Rs 16.74. In the past two months, it has zoomed 307 per cent from Rs 8 on the BSE.
On sharp movement in price, TV18 Broadcast and Network18 Media & Investments on June 12, in separate regulatory filing clarified that there is no disclosure that should have been made in terms of SEBI regulations and which has not been made by the Company.
RIL, which holds controlling stake in these companies, also hit a record high of Rs 1,647.85 on the BSE on Tuesday. The stock recovered 90 per cent from its 52-week low of Rs 867.82 touched on March 23, 2020. The rally in RIL has been fuelled by the firm’s ability to garner 10 foreign investments in its subsidiary Jio Platforms for a whopping Rs 1.04 trillion, from leading global investors.
Foreign brokerages Morgan Stanley, Goldman Sachs and CLSA are bullish on RIL and have maintained 12-month target price of up to Rs 1,801 on the stock. CLICK HERE TO READ FULL REPORT
| COMPANY | LATEST | 1-MONTH BEFORE | GAIN(%) |
| HATHWAY BHAWANI | 32.55 | 16.42 | 98.23 |
| TV18 BROADCAST | 37.70 | 21.55 | 74.94 |
| NETWRK.18 MEDIA | 40.05 | 24.80 | 61.49 |
| DEN NETWORKS | 79.70 | 52.20 | 52.68 |
| HATHWAY CABLE | 34.40 | 23.60 | 45.76 |
| REL. INDL. INFRA | 306.30 | 273.30 | 12.07 |
| RELIANCE INDUSTR | 1613.00 | 1458.90 | 10.56 |
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