Siti Networks lost 1.94% to Rs 30.25 at 14:16 IST on BSE, with the stock sliding on profit taking after recent rally.
Meanwhile, the S&P BSE Sensex was down 190.81 points or 0.61% at 31,071.25. The S&P BSE Small-Cap index declined 72.29 points or 0.46% at 15,476.88.
On the BSE, 48,000 shares were traded on the counter so far as against the average daily volumes of 11.47 lakh shares in the past one quarter. The stock had hit a high of Rs 30.60 and a low of Rs 29.80 so far during the day. The stock had hit a 52-week high of Rs 41.35 on 20 December 2016 and a 52-week low of Rs 26.15 on 7 June 2017.
The stock had underperformed the market over the past one month till 9 June 2017, sliding 3.74% compared with the Sensex's 4.44% rise. The stock had also underperformed the market over the past one quarter, declining 17.73% as against the Sensex's 8.06% rise. The scrip had also underperformed the market over the past one year, declining 18.17% as against the Sensex's 16.81% rise.
The small-cap company has equity capital of Rs 87.21 crore. Face value per share is Rs 1.
Shares of Siti Networks had rallied 15.11% in the preceding three trading sessions to settle at Rs 30.85 on Friday, 9 June 2017, from its closing of Rs 26.80 on 6 June 2017.
Among recent developments, promoter entity Essel International offloaded 1.70 crore shares of Siti Networks to another promoter entity Digital Satellite Holdings at Rs 28.35 per share in a bulk deal on the BSE on Friday, 9 June 2017.
Essel International held 5.39% and Digital Satellite Holdings owned 8.18% stake in Siti Networks end March 2017.
On a consolidated basis, Siti Networks reported net loss of Rs 64.92 crore in Q4 March 2017, higher than net loss of Rs 1.47 crore in Q4 March 2016. Net sales fell 4% to Rs 325.52 crore in Q4 March 2017 over Q4 March 2016.
Siti Networks is one of India's largest multi system operators (MSO). The company provides its cable services in India's 250 plus cities and the adjoining areas.
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