Shares of Den Network spurts 10% as board decides on preferential issue


NEW DELHI: Shares of Den Network saw a 10 for every penny spurt in Friday's exchange after the organization said the board individuals would talk about and favor the proposition for particular issue of value shares next Tuesday.

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Taking after the news, the stock surged 9.99 for every penny to hit a high of Rs 79.80 on BSE. At winning value, the scrip is exchanging underneath 14-day, 50-day and 200-day basic moving midpoints, information accessible with database Capitaline recommends.

The organization reported a net loss of Rs 57.31 crore for the June quarter, contrasted and a Rs 50.75 crore misfortune amid the relating quarter a year ago. Deals for the quarter grew 23.95 for every penny to Rs 236.97 crore from Rs 191.18 crore in the same quarter a year ago.

In FY16, broadband endorsers for DEN Networks developed to 95,000 from 23,000 in FY15. For associate Hathway Cable and Datacom endorser base hopped to 627,200 from 455,800 in FY15, and SITI Cable Network to 132,000 from 60,000, recommending a development in broadband infiltration.

Lair Networks is a digital TV circulation organization which likewise offers broadband administrations. The organization educated BSE that a meeting of the Board of Directors of the Company would be hung on September 20, 2016, entomb assumed name, to talk about the particular offer issue.

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