DTH and cable operators rise on report govt mulls FDI hike in sector

Shares of two direct to home and cable networks operators rose by 1.53% to 4.85% at 12:20 IST on BSE on reports government mulls raising foreign direct investment cap in Direct to Home and TV cable operators to 100%.

Meanwhile, the BSE Sensex was down 83.70 points, or 0.32%, to 26,135.55.

Among shares of Direct to Home and TV cable operators, Dish TV India (up 4.85%) and Den Networks (up 1.53%) gained. Whereas, Siti Cable Network (down 5.51%) and Hathway Cable Datacom (down 2.91%) declined.

The reports suggested that the Government is considering a proposal to hike foreign direct investment (FDI) limits to 100% in broadcasting carriage and content services, including direct-to-home (DTH) and cable networks in order to attract overseas investment and improve infrastructure.

Companies that offer broadcasting carriage services include Dish TV, Siti Cables, Hathway services and Den Networks.

An inter-ministerial committee is considering FDI proposals, including hiking foreign direct investment cap in cable networks, direct-to-home (DTH), Mobile TV, HITS (Headend-in-the Sky Broadcasting Service), according to media reports.

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