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Tuesday, 18 April 2017

DEN Networks Limited from the media stocks basket, is the buzzing stock in Tuesday’s trading session. The stock touched its intraday high of Rs 105 per share in the opening hours.

There are total of 40,05,820 shares traded on NSE as of 11:41 hours, aggregating to Rs 40.3 cr in value terms. If the past one month stock performance is taken into consideration, there is high percentage of deliverable quantity to traded quantity, which shows the strong faith of investors in the stock.

As per the data available with NSE, the stock witnessed 50.16% deliverable quantity to traded quantity in the trading session of April 17, 2017.

The company was in focus few days back since the scheme of arrangement at DEN Networks was approved by its members. The demerger of the broadband arm may achieve structural and operational efficiency, enhance competitiveness and greater accountability and will enable the company to have focussed attention on the ISP business.

The market reacted positive to the development at DEN Networks Limited, and also the positivity floating in the market helped the stock to see higher levels. The major indices in the market, Nifty and Sensex are trading in positive territory, higher by 70 and 245 points respectively in Tuesday’s trading session. 

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