Preferential issue: As board decides Den Network spurts 10%

NEW DELHI: Den Network shares saw a 10 % discharge in Friday's trade after the company said the board 
members would review & approve the plan for preferential issue of equity shares next Tuesday. 

Following the news, the stock surged 9.99 % to hit a higher of Rs 79.80 on BSE. At prevailing price, the scrip is trading below 14-day, 50-day and 200-day easy moving averages, data available with database Capitaline indicates. 

The company accused a net loss of Rs 57.31 cr for the June quarter, compared with a Rs 50.75 cr loss during the corresponding quarter last year. Sales for the quarter grew 23.95 % to Rs 236.97 crore from Rs 191.18 cr in the same quarter last year. 

In FY16, broadband subscribers for DEN Networks spread to 95,000 from 23,000 in FY15. For peer Hathway Cable & Datacom subscriber base pushed to 627,200 from 455,800 in FY15, and SITI Cable Network to 132,000 from 60,000, suggesting a growth in broadband penetration.

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Share market tips & overview : Buy Reliance Infra call 24 Feb, 2016

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Share market updates : Most Asian markets were trading down. Japan's benchmark Nikkei was trading 0.65 per-cent lower at 15,948.31. China's CIS300 fell 0.17 per-cent to 3,087.Click for more Share tips

Other Asian market indices, including Hong Kong's Hang Seng (down 1.20 per-cent), South Korea's Kospi (down 0.02) & the TWSE of Taiwan (down 0.50 per-cent) were trading lower.


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FUTURE: RELIANCE INFRA HIT 1ST TGT 411.50 HIGH OF 411.75 BOOK PART PROFIT

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Share market tips & updates 17 feb, 2016

Share tips - The broader market traded in line with the benchmark indices with the BSE midcap and smallcap indices trading lower by 0.61 and 0.32 per cent, respectively.

Today, the rupee dropped 18 paise to hit its lowest level to 68.56 against the USDr since Sep 4, 2014, in early trade amid weak cues from Asian currency markets.

Yesterday, the local currency had lost 32 paisa to end near 68.38, after hitting an intraday low of 68.43 against the greenback, as the Reserve Bank of India (RBI) was assumed to have intervened to check the currency's fall. Click for Share tips
 

Most other Asian markets traded mixed. Japan's Nikkei traded down by 0.18 per-cent while the South Korean Kospi was trading with mild gains. Hong Kong's Hang Seng index went up 0.16 per cent. China's CSI300 index was up by 0.25 per-cent.

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