Hathway Cable corrects on profit booking

Hathway Cable & Datacom fell 3.19% to Rs 40.95 at 15:25 IST on BSE on profit booking after the stock jumped 15.42% in the preceding five trading sessions to Rs 42.30 on 9 October 2015, from a recent low of Rs 36.65 on 1 October 2015.

Meanwhile, the BSE Sensex was down 159.62 points, or 0.59%, to 26,919.89.

On BSE, so far 76,000 shares were traded in the counter, compared with an average volume of 90,423 shares in the past one quarter.

The stock hit a high of Rs 43.45 and a low of Rs 40.80 so far during the day. The stock hit a record high of Rs 77.12 on 19 November 2014. The stock hit a 52-week low of Rs 34.75 on 29 September 2015.

The stock had outperformed the market over the past one month till 9 October 2015, rising 6.28% compared with 5.29% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 10.95% as against Sensex's 1.79% decline.

The mid-cap company has an equity capital of Rs 166.10 crore. Face value per share is Rs 2.

Hathway Cable & Datacom reported a net profit of Rs 43.91 crore in Q1 June 2015, as compared with net loss of Rs 0.92 crore in Q1 June 2014. Net sales rose 5.4% to Rs 263.17 crore in Q1 June 2015 over Q1 June 2014.

Hathway Cable & Datacom is one of the largest multi system operator (MSO) and cable broadband service providers in India.

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