DEN Networks stock raises

The stock of DEN Networks rose 2.9 per cent to Rs 194.30 after its board approved selling up to 26 per cent of the company’s paid-up share capital. 

The stock has hit a high of Rs 196.95 and a low of Rs 192 so far during the day. The company board also gave its nod to an increase in the FII limit to the extent permissible under Indian laws. The Government last year had increased the foreign investment limit to 74 per cent from 49 per cent in teleports (setting up uplinking HUBs/teleports), Direct to Home, Cable Networks (Multi-System-Operators operating at the national or State or district level and undertaking upgradation of networks towards digitalisation and addressability). 

Currently, promoters hold 53.24 per cent stake in the company, while FIIs have an exposure of 13.69 per cent and domestic institutions hold 2.38 per cent. 

According DEN Networks, its cable TV distribution reaches an estimated 11 million households in 115 cities across India. DEN’s presence spans key States including Delhi, Uttar Pradesh, Karnataka, Maharashtra (including Mumbai), Gujarat, Rajasthan, Haryana, Kerala, West Bengal, Jharkhand and Bihar.

Source: http://cablequest.org/news/cable-news/item/2010-den-networks-stock-raises.htmlSource: http://cablequest.org/news/cable-news/item/2010-den-networks-stock-raises.html