Den Networks jumps on bargain hunting

Den Networks rose 3.34% to Rs 66.50 at 14:39 IST on BSE on bargain hunting after a recent slide.

Meanwhile, the BSE Sensex was down 207.85 points, or 0.80%, to 25,832.85.

On the BSE, so far 1.39 lakh shares were traded in the counter, compared with average daily volumes of 51,272 shares in the past one quarter. The stock had hit a high of Rs 71 and a low of Rs 63.05 so far during the day.

The stock hit a 52-week high of Rs 116 on 30 December 2015. The stock hit a 52-week low of Rs 60.50 on 15 February 2016. The stock had underperformed the market over the past 30 days till 23 December 2016, falling 5.78% compared with the 0.70% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 20.36% as against Sensex's 9.17% decline.

The small-cap company has equity capital of Rs 194.03 crore. Face value per share is Rs 10.

Shares of Den Networks fell 14.60% in eight trading sessions to settle at Rs 64.35 on Friday, 23 December 2016, from its close of Rs 75.35 on 13 December 2016.

Den Networks reported net loss of Rs 47.87 crore in Q2 September 2016 as against net loss of Rs 97.76 crore in Q2 September 2015. Net sales rose 20.85% to Rs 257.30 crore in Q2 September 2016 over Q2 September 2015.

Den Networks is India's leading cable TV distribution company reaching an estimated 13 million households in over 200 cities across 13 key states in India.

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