Hathway Cable, DEN, Siti Networks shares continue to fall, tank up to 11%

Shares of broadcasting and cable TV operators continued to face selling pressure for the second straight session today, tumbling up to 11.2 per cent after Reliance unveiled fiber broadband service in 1,100 cities.

Hathway Cable and Datacom plunged 11.17 per cent, DEN Networks 7.36 per cent and Siti Networks 5.01 per cent on BSE.

These stocks tanked up to 15.4 per cent in the previous trading session also.

After shaking mobile telephony with free voice calls and dirt cheap data, richest Indian Mukesh Ambani yesterday unveiled an ultra high-speed fixed line fiber broadband for homes and enterprises across 1,100 cities.

Jio GigaFiber will offer ultimate broadband experience to surf, stream, game, and work, because of its ultra-fast upload and download speeds and effective functioning in milliseconds.