BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Adani Industries
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Infosys
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TCS
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Reliance Industries
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Detailed explanation-1: -This investment will allow RIL to have a controlling 51.3 per cent stake in Hathway Cable and Datacom Limited.
Detailed explanation-2: -Promoted by the Raheja Group, Hathway is one of the largest MSO & cable broadband service providers in India. The Company’s Cable operations straddle across key Indian geographies and offers cable television services across 140 cities and towns and high-speed cable broadband services across 21 cities.
Detailed explanation-3: -On February 17, 2020, Reliance Industries had announced the consolidation of its all media and distribution businesses under one umbrella brand ‘Network18’. Under the scheme of the arrangement, TV18 Broadcast, Hathway Cable & Datacom and Den Networks were to merge into Network18 Media & Investments.
Detailed explanation-4: -Hathway Cable is owned by the Raheja Group while Sameer Manchanda owns DEN Networks.
Detailed explanation-5: -Post the open offers in 2019, BSE data shows, RIL held nearly 78% stake in Den and 72% in Hathway. One reason why these assets were bought was to speed up the commercial launch of Jio GigaFiber. RIL purchased Den and Hathway shares at ₹72.66 and ₹32.35 per share in 2019, respectively.