Hathway Cable, Den Networks tank up to 15.4% as Reliance unveils fiber broadband service

Shares of broadcasting and cable TV operators tanked up to 15.4 per cent today after Reliance unveiled fiber broadband service in 1,100 cities.

Hathway Cable & Datacom plunged 15.40 per cent, Den Networks 10.73 per cent and Siti Networks 2.76 per cent on BSE.

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

Ambani said customers can start registering for the fixed line broadband from August 15 but did not give a launch date of the service.

The service will through one fiber provide high-speed internet, ultra high definition entertainment on large screen TVs, multi-party video conferencing, voice-activated virtual assistance, virtual reality gaming and digital shopping as well as smart home solutions.

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.