Homemarket News

JioGigaFiber impact: Den Networks, Hathway Cables, Siti Net shares dive

JioGigaFiber impact: Den Networks, Hathway Cables, Siti Net shares dive

JioGigaFiber impact: Den Networks, Hathway Cables, Siti Net shares dive
Profile image

By CNBC-TV18 Jul 6, 2018 7:06:25 AM IST (Updated)

JioGigaFiber is expected to disrupt the broadband internet service market the same way Reliance Jio Infocomm did last year.

Shares of Den Networks, Hathway Cables and Siti Net fell after Reliance Industries’ chairman Mukesh Ambani launched JioGigaFiber, a wired broadband service during the 41st annual general meeting (AGM) of the company on Thursday.

Recommended Articles

View All

JioGigaFiber is expected to disrupt the broadband internet service market the same way Reliance Jio Infocomm did last year.
Shares of Hathway Cables declined the most in the intra-day trade on Thursday, falling to its new 52-week low at Rs 19.85. At 1.17pm, the stock was trading at Rs 21.55, down by 11.50 percent.
Likewise, Den Networks' shares declined by 8.72 percent to Rs 68.05, while the shares of Siti Networks were trading lower by 4.58 percent to Rs 13.12.
JioGigaFiber will be launched across 1,100 cities of India simultaneously making it the largest fixed-line broadband fiber launch in the world.
At present, the beta trials of the highly-anticipated broadband services are running and the registration for mass customer services will begin from August 15 through myjio and Jio.com app.
JioGigaFiber will offer connections with 1.1 terabyte free data at a speed of 100 mbps. Customers can avail the service by depositing a refundable security amount of Rs 4500 for GigaHub Home Gateway service.
Disclosure: RIL, the promoter of Reliance Jio, also controls Network18, the parent company of CNBCTV18.com.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!

Most Read

Market Movers

View All
Top GainersTop Losers
CurrencyCommodities
CompanyPriceChng%Chng