Star TV is planning to up its stakes in the Mumbai-based cable TV distributing company, Hathway Bhawani Cabletel & Datacom Ltd, part of the Rajan Raheja Group. Star TV already holds 26 per cent stake in Hathway Cable and Datacom Pvt Ltd, which is the flagship company of the Rajan Raheja Group. The market rumour is that Star wants to either increase its stake in the company through Hathway Cable or have a direct stake.
According to stock market analysts, this would give an advantage to the media major in distributing its channels in Mumbai. With the growth in the cable TV business in the last few years, market players are expecting increased interest in the stock as it is the only listed cable TV distributing company.
Source: Business Line