INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Mukesh Ambani's announcement that Relaince Industries will launch ultra-high speed fixed line broadband services for homes and
enterprises upset broadcasting cable stocks during Thursday's trade.
Chairman and Managing Director Mukesh Ambani announced the commercial
launch of Jio Giga Fiber broadband services
Addressing the company's 41st annual general meeting, Ambani said 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.
Shares of Hathway Cable Datacom (down
11.70 per cent) , Den Networks (down 8.12 per cent), Bharti Airtel (down 1.15 per cent) and Sun TV Network (down 0.77 per cent) were
suffering losses around 12:30 pm.
Market sentiment was subdued amid weak Asian cues
Losses in Infosys, Tata Motors, Vedanta and Larsen Toubro were weighing on the Sensex.
Benchmark BSE Sensex was 96 points down at 35,549,
while the NSE Nifty50 index was down 28 points at 10,742.
In the Sensex index, 16 stocks were up, while 15 were down.
Among the sectors, IT,
consumer durables, metal, realty and teck were reeling under pressure.
