Den Networks, Hathway Cable freeze at 10% upper circuit post Q1 results

Shares of Den Networks and Hathway Cable & Datacom were locked in their 10 per cent upper circuit bands on the BSE at Rs 109.60, and Rs 52.70, respectively, on Tuesday after reporting a strong set of numbers for the quarter ended June 2020 (Q1FY21). These stocks also hit their respective 52-week highs on the BSE.

Mukesh Ambani controlled – Reliance Industries (RIL) hold a majority stake in Den Networks and Hathway Cable and Datacom through group companies.

In Q1FY21, Den Networks consolidated net profit jumped an over four-fold at Rs 58 crore, on the back of strong operational performance by cable business. The company had a profit of Rs 14 crore in Q1FY20.