Den Network spikes up 3 per cent
DSIJ Intelligence / 30 Nov 2017
The stock of Den Network spurred up in early trade on Thursday. The stock was up more than 3 per cent at 9:48 am.
The stock of Den Network spurred up in early trade on Thursday. The stock was up more than 3 per cent at 9:48 am.
The share price went up on the back of the news that Norges Bank on behalf of the Government Pension Fund Global bought 23.88 lakh shares of the company at Rs 92.75 on the BSE, on Wednesday. Meanwhile, Spruce House Partnership solds 29.48 lakh shares of Den Networks at Rs 92.76 on Wednesday.
Den Network, a broadcasting and cable TV service provider, reported a consolidated net profit of Rs 1.11 crore for the Q2FY18. The company reported total income of Rs 334.90 crore for the quarter, which is up 19.59 per cent, compared to Rs 280.04 crore in the corresponding quarter of FY2016-17.
At 09:38 hours on Wednesday, Den Networks was trading at Rs. 94.05 per share, up 1.24 per cent from its Rs. 92.90 closing in the previous session. The stock hit a high of Rs. 96.00 per share in the morning session.
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