Siti Cable Network gains on 100% FDI via automatic route
The government has allowed 100% FDI via automatic route for teleports, direct-to-home, cable networks, mobile TV and head-in-the-sky (HITS)
SI Reporter |
Last Updated at June 21, 2016 11:17 IST
Shares of Siti Cable Network were up nearly 4% at Rs 38.35 on the Bombay Stock Exchange after the government allowed 100% foreign direct investment for the broadcasting sector comprising of teleports, direct-to-home, cable networks, mobile TV and head-in-the-sky (HITS). (For detailed report please click here)
The move to allow 100% FDI for select broadcasting sectors will help improve infrastructure and also aid expansion and reach especially in the rural areas.
The stock opened at Rs 38.40 and touched a high of Rs 39.80. At 11:10am, over 940,000 shares were traded on both the stock exchanges.
Meanwhile, its peer Den Netowrks was trading 2% lower at Rs 89.40 on the BSE.
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First Published: Tue, June 21 2016. 11:11 IST