Den Networks rose 5.97% to Rs 135.80 at 11:47 IST on BSE on bargain hunting after the stock slumped 14.08% in the preceding four trading sessions to Rs 128.15 on 8 October 2014 from a recent high of Rs 149.15 on 29 September 2014.
Meanwhile, the BSE Sensex was up 225.82 points, or 0.86%, to 26,472.61.
On BSE, so far 6.06 lakh shares were traded in the counter, compared with an average volume of 64,008 shares in the past one quarter.
The stock hit a high of Rs 139.65 and a low of Rs 130.10 so far during the day. The stock hit a 52-week high of Rs 246.15 on 2 July 2014. The stock hit a 52-week low of Rs 110.45 on 5 December 2013.
The stock had underperformed the market over the past one month till 8 October 2014, falling 24.55% compared with 3.93% fall in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 40.70% as against Sensex's 2.60% rise.
The small-cap company has an equity capital of Rs 178.20 crore. Face value per share is Rs 10.
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Shares of Den Networks plunged recently after its Chief Executive Officer (CEO) resigned with immediate effect.
Den Networks announced on 29 September 2014, that S N Sharma, CEO of the company, resigned due to personal reasons with immediate effect.
On a consolidated basis, Den Networks' net profit fell 89% to Rs 1.12 crore on 12.3% increase in net sales to Rs 298.38 crore in Q1 June 2014 over Q1 June 2013.
Den Networks is a cable TV distribution company reaching an estimated 13 million households in over 200 cities across 13 key states in India.
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