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Den Networks, Hathway Cable Hit 52-Week High: Stocks Quadrupled Investors' Wealth
With demand for internet surging amid new work from home normal, cable and broadband service companies have managed to reap enormous gains for its investors. Infact some of the names from the space have quadrupled investors wealth in a span of just 4 months including Den Networks, Sterlite Technologies, and Hathway Cable and Datacom
| Stock from Broadband and digital services | March low price | LTP on July 22, 2020 | Surge in 4 months |
|---|---|---|---|
| Hathway Cable and Datacom | 10.5 | 57.45 (new 52-week high) | 440% |
| Den Networks | 25.5 | 115.05 (new 52-week high made today) | 351% |
| Sterlite Technologies | 58.65 | 136.75 | 133% |
Given the resilience in ad revenues, sentiments are bullish on stocks from this space. "The valuations of pure broadcasters may go up. The cable operators who are facing disruption in payment, will also see things easing down," said Rajiv Sharma of SBICap Securities. Also earnings of these companies have been maintaining a record. With Den Networks logging a stellar performance for the June quarter of 4 times despite a decline in revenues.
Also, Hathway Broadband despite a lackluster stood as an outlier stock among its peers with a net profit of Rs. 46 crore.
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