 "WPI inflation soars to 14-mth high; rises to 4.43% in May from 3.18% in Apr")
Shares of Hathway Cable and DEN Networks rallied up to 8 per cent in intra-day deals, on reports that Mukesh Ambani led-Reliance Industries (RIL) may soon buy a controlling stake in these two companies. The move, according to reports, is part of RIL's strategy to ramp up coverage of its high-speed broadband network.
"A transaction is likely to be unveiled on Wednesday when the boards of all three companies are slated to meet. RIL will own shares in Hathway and Den through a common entity which will become the holding company of the two multi-system operators," said a Time of
