Hathway Cable, Den Networks hit 52-week low as RIL launches JioGigaFibre

Hathway Cable & Datacom dipped 10% to Rs 18.55, extending its previous day's 15% fall on the BSE, while Den Networks slipped 7% to Rs 62.20, after falling 11% yesterday.

Shares of Den Networks and Hathway Cable & Datacom fell more than 5% for the second straight session after the Reliance Industries’s (RIL) chairman Mukesh Ambani on Thursday announced the launch of Jio’s fibre to home or fixed line broadband services called Jio GigaFiber.

Hathway Cable & Datacom dipped 10% to Rs 18.55, extending its previous day’s 15% fall on the BSE. Meanwhile, Den Networks has slipped 7% to Rs 62.20, after falling 11% yesterday. Both these stocks are trading at their respective 52-week lows on the BSE.

The launch of the home broadband services is expected to