Shares of the four cable television service provider dropped 3.64% to 14.37% at 15:09 after Reliance Industries announced the launch of fixed-line broadband service Jio GigaFiber from 15 August 2018.
Meanwhile, the S&P BSE Sensex was down 95.98 points or 0.27% at 35,549.42.
Hathway Cable & Datacom (down 14.37%), Den Networks (down 11.54%), GTPL Hathway (down 8.84%) and Siti Networks (down 3.64%) dropped.
Reliance Industries (RIL) announced a new service called the Jio GigafiberFiber broadband services for homes and enterprises at its 41st annual general meeting (AGM) today, 5 July 2018. The service will provide ultra high definition entertainment on TV, voice activated assistance, virtual reality gaming and digital shopping as well as smart home solutions. Jio GigafiberFiber will be the largest greenfield fixed-line broadband rollout anywhere in the world, with rollout happening in 1,100 cities of India simultaneously.
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