The announcement was made during trading hours today, 13 July 2012.
Meanwhile, the BSE Sensex was down 12.45 points, or 0.07%, to 17,220.10.
On BSE, 10.69 lakh shares were traded in the counter as against an average daily volume of 33,729 shares in the past one quarter.
The stock hit a high of Rs 126.20 so far during the day, which is also a 52-week high for the counter. The stock hit a low of Rs 112.55 so far during the day. The stock had hit a 52-week low of Rs 35.25 on 19 August 2011.
The stock had outperformed the market over the past one month until 12 July 2012, rising 10.22% compared with the Sensex's 2.19% rise. The scrip had also outperformed the market in past one quarter, gaining 9.74% as against 0.58% fall in the Sensex.
The small-cap company has an equity capital of Rs 132.73 crore. Face value per share is Rs 10.
The US-based TIAA-CREF (Teachers Insurance and Annuity Association - College Retirement Equities Fund) Investment Management has raised its holding in cable distribution firm DEN Networks to about 6% in a deal estimated to be about Rs 15 crore.
TIAA-CREF Investment Management has bought 13.06 lakh shares or 1% stake in Den Networks, the cable operator informed the BSE.
However, the price at which shares were bought was not disclosed. At Den's closing price of Rs 112.75 per share on Wednesday (11 July 2012), the size is estimated at about Rs 14.72 crore.
With this transaction, which happened on Wednesday (11 July 2012), TIAA - CREF's total stake in DEN Networks has increased to 5.93%, the BSE filing said. Prior to the transaction, TIAA-CREF held 4.93% stake in DEN Networks.
On a consolidated basis, DEN Networks' net profit declined 41.4% to Rs 4.76 crore on 14% increase in net sales to Rs 316.60 crore in Q4 March 2012 over Q4 March 2011.
DEN Networks is a cable TV distribution company reaching an estimated 11 million households in more than 88 cities across India. DEN serves the majority of cable TV households in states like Delhi, Uttar Pradesh and Karnataka and has a significant presence in important cities in Maharashtra (including Mumbai), Gujarat, Rajasthan, Haryana, and Kerala, West Bengal, Jharkhand and Bihar.
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