Shares of cable TV and broadband service providers, Hathway Cable & Datacom and DEN Networks Ltd, jumped 8.16 percent and 7.82 percent, respectively, after a news report said the oil-to-telecom conglomerate, Reliance Industries Ltd (RIL) could buy controlling stakes in the two companies.

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An Economic Times report on Tuesday said the RIL could buy controlling stakes in the two companies to boost its high-speed broadband network. RIL is likely to own more than 25 percent in Hathway and DEN, the report added.

RIL, the parent company of Reliance Jio, had unveiled its fibre broadband system JioGigaFiber in July in a push to make deeper inroads into the country’s wireless and fixed-line internet industry.

According to CNBC-TV18, the formal announcement may come on Friday when RIL will announce its September quarter results.

On October 4, Hathway’s stock shot up to a 3-month high after media reports said RIL is in talks to buy the company although both companies at that time said they will not comment on speculation.

Shares of Hathway Cable traded 3.13 percent higher at Rs 29.70 at 12.27 PM on the NSE. Den Networks was up 1.62 percent to trade at Rs 75.40. RIL's shares traded 0.68 percent higher at Rs 1,147.55.

Meanwhile, benchmark indexes, the BSE Sensex and the NSE Nifty50, were off the day's highs. The Nifty traded 40 points higher, or 0.38 percent, at 10, 552.50. The BSE Sensex was at 35,049, higher by 166 points, or 0.48 percent.

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(With inputs from Reuters)

Disclosure:

Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.