Govt raises FDI cap in broadcasting to 74%; stocks surge

On Friday, the government has raised the FDI cap in broadcasting from 49% to 74%, reports CNBC-TV18.

Hathway Cable and Datacom touched a 52-week high of Rs 231. At 09:29 hrs the share was quoting at Rs 222.75, up Rs 4.20, or 1.92%. It was trading with volumes of 86,350 shares. Den Networks touched a 52-week high of Rs 162. At 09:29 hrs the share was quoting at Rs 155.00, up Rs 2.95, or 1.94%. It was trading with volumes of 81,828 shares. Dish TV India has touched an intraday high of Rs 83.35 and an intraday low of Rs 78.55. At 09:29 hrs the share was quoting at Rs 82.15, up Rs 5.50, or 7.18%. It was trading with volumes of 289,144 shares. Also Read - Aviation, retail & cable stocks likely to zoom on FDI move
Wire and Wireless (India) touched an intraday high of Rs 21.15 and an intraday low of Rs 21.15. At 09:29 hrs the share was quoting at Rs 21.15, up Rs 1.00, or 4.96%. There were pending buy orders of 32,780 shares, with no sellers available. It was trading with volumes of 67,004 shares.
Also Read - Aviation, retail & cable stocks likely to zoom on FDI move http://www.moneycontrol.com/news/market-news/aviation-retailcable-stocks-likely-to-zoomfdi-move_758380.html