Den Networks rose 2.26% to Rs 95 at 9:23 IST on BSE after The Government Pension Fund Global purchased bulk shares of the company yesterday, 29 November 2017.
Meanwhile, the S&P BSE Sensex was down 178.22 points or 0.53% at 33,424.54.
On the BSE, 35,000 shares were traded on the counter so far as against the average daily volumes of 1.19 lakh shares in the past one quarter. The stock had hit a high of Rs 96 and a low of Rs 94.30 so far during the day. The stock had hit a 52-week high of Rs 105 on 3 May 2017 and a 52-week low of Rs 60.85 on 30 November 2016.
The Spruce House Partnership LP sold 29.48 lakh shares of Den Networks at Rs 92.76 per share in a bulk deal on the BSE on 29 November 2017. Norges Bank on account of The Government Pension Fund Global bought 23.88 lakh shares at Rs 92.75 apiece. The Spruce House Partnership LP held 1.9% stake in Den Networks as per the shareholding pattern end September 2017.
On a consolidated basis, Den Networks reported net profit of Rs 1.11 crore in Q2 September 2017, compared with net loss of Rs 43.96 crore in Q2 September 2016. Net sales rose 20.3% to Rs 327.79 crore in Q2 September 2017 over Q2 September 2016.
Den Networks is a leading cable TV distribution company in India.
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