Broadband stocks fall as RIL announces launch of JioGigaFibre

Shares of broadband and cable TV operators like Hathway Cable & Datacom, Den Networks and Siti Networks have tanked up to 18% after the Reliance Industries announced the launch of Jio Gigafibre.

Hathway Cable & Datacom hit a 52-week low of Rs 19.85, down 18% on the BSE in intra-day trade. Den Networks plunged 11% to Rs 66.05, trading close to its 52-week low of Rs 65 touched on August 11, 2017, while Siti Network was down 5% at Rs 13.12 on the BSE. Bharti Airtel too was down 1.1%  at Rs 362.30.

Reliance Industries' Chairman and Managing Director Mukesh Ambani