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Siti Networks declines as promoters rejig holding

Capital Market 

Siti Networks lost 2.05% to Rs 35.90 at 11:55 on after Essel International sold 1 crore of the company to Bioscope Cinemas at an average price of Rs 36.35 per share in a bulk deal on the yesterday, 30 November 2016.

Meanwhile, the S&P Sensex was down 12.05 points or 0.05% at 26,640.76.

On the BSE, 6,622 were traded on the counter so far as against average daily volumes of 40,574 in the past one quarter. The stock had hit a high of Rs 36.70 and a low of Rs 35.80 so far during the day. The stock had hit a 52-week high of Rs 41.70 on 5 January 2016. The stock had hit a 52-week low of Rs 30.90 on 12 February 2016. The stock had outperformed the market over the past one month till 30 November 2016, advancing 5.77% compared with the Sensex's 4.57% fall. The scrip had also outperformed the market in past one quarter, gaining 3.97% as against the Sensex's 5.96% fall.

The small-cap company has equity capital of Rs 79.41 crore. Face value per share is Rs 1.

Essel International held 7.81% and Bioscope Cinemas owned 9.17% in Siti Networks end September 2016.

On a consolidated basis, Siti Networks reported net loss of Rs 46.89 crore in Q2 September 2016, compared with net loss of Rs 31.43 crore in Q2 September 2015. Net sales rose 23.4% to Rs 285.26 crore in Q2 September 2016 over Q2 September 2015.

Siti Networks is one of India's largest multi system operator (MSO). The company provides its cable services in India's 250 plus cities and the adjoining areas.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, December 01 2016. 11:50 IST