Den Networks tumbles on profit booking

Den Networks slipped 5.44% to Rs 91.20 at 14:18 IST on BSE, with the stock sliding on profit booking after recent rally.

Meanwhile, the S&P BSE Sensex was down 30.05 points, or 0.1% at 29,431.40. The S&P BSE Small-cap index was up 63.27 points, 0.43% at 14,944.43.

High volumes were witnessed on the counter. On the BSE, 17.06 lakh shares were traded on the counter so far as against the average daily volumes of 58,568 shares in the past one quarter. The stock had hit a high of Rs 98 and a low of Rs 87.10 so far during the day.

The stock had hit a 52-week high of Rs 103.40 on 13 April 2017 and a 52-week low of Rs 60.85 on 30 November 2016. The stock had outperformed the market over the past one month till 13 April 2017, advancing 18.56% compared with the Sensex's 1.78% rise. The scrip had also outperformed the market over the past one quarter advancing 19.44% as against the Sensex's 8.16% rise.

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

Den Networks had rallied 7.94% in the preceding four trading sessions to settle at Rs 96.45 on Thursday, 13 April 2017, from its closing of Rs 89.35 on 7 April 2017. The stock market was closed on Friday, 14 April 2017, for a holiday.

Den Networks reported consolidated net loss of Rs 45.10 crore in Q3 December 2016, as against net loss of Rs 87.39 crore in Q3 December 2015. Net sales rose 30.3% to Rs 286.83 crore in Q3 December 2016 over Q3 December 2015.

Den Networks is India's leading cable TV distribution company.

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