Hathway Cable jumps on bargain hunting

Hathway Cable & Datacom jumped 6.32% to Rs 42.90 at 11:05 IST on BSE on bargain hunting after the stock fell 7.88% in the preceding six trading sessions to Rs 40.35 on 4 September 2015 from a recent high of Rs 43.80 on 27 August 2015.

Meanwhile, the BSE Sensex was down 17.66 points, or 0.07%, to 25,184.24.

On BSE, so far 56,000 shares were traded in the counter, compared with an average volume of 70,909 shares in the past one quarter.

The stock hit a high of Rs 44.10 and a low of Rs 40 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 36.55 on 25 August 2015.

The stock had underperformed the market over the past one month till 4 September 2015, sliding 18.48% compared with 10.22% fall in the Sensex. The scrip had also underperformed the market in past one quarter, falling 16.29% as against Sensex's 6.01% 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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