Den Networks rallies 3.2% after Board Meeting

India Infoline News Service | Mumbai | September 20, 2016, 15:52 IST

The company said that its board has approved the allotment of 1.58 crore shares on preferential basis to affiliates of the Goldman Sachs Group that form part of the persons belonging to the non-promoter category.

DEN Networks
Den Networks Ltd  ended at Rs. 80.85, up by Rs. 2.5 or 3.19% from its previous closing of Rs. 78.35 on  the BSE.

The company said that its Board has approved the allotment of 1.58 crore shares on preferential basis to affiliates of the Goldman Sachs Group that form part of the persons belonging to the non-promoter category.

The Board approved an issue price of Rs. 90 per equity share (including premium) for the preferential allotment.

Post this allotment, the holding of affiliates of Goldman Sachs Group will increase to 24.49% from 17.79% earlier, the company said in a BSE filing.

The scrip opened at Rs. 79 and has touched a high and low of Rs. 85 and Rs. 78.1 respectively. So far 1700648 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 1396.2 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 133 on 21-Sep-2015 and a 52 week low of Rs. 60.5 on 15-Feb-2016. Last one week high and low of the scrip stood at Rs. 81 and Rs. 69.3 respectively.

The promoters holding in the company stood at 40.05 % while Institutions and Non-Institutions held 45.18 % and 14.77 % respectively.

The stock is currently trading below its 200 DMA.

***Note: This is a NSE Chart

 

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