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DEN Networks: Investors’ focus
Shares of many companies of Mukesh Ambani fall in the penny stock category, among which the prominent name is DEN Networks Limited. At the beginning of last week, DEN Networks shares were under selling pressure, but at the end of the week investors bought heavily. The stock gained 3% during trading on Friday and reached ₹41.60. At the close of trading, the stock closed at ₹41.50, up 2.98%.
However, the stock recently touched a low of ₹40.02 on December 26, 2024, which is its 52-week low. At the same time, in January 2024, it had risen to the level of ₹ 69.40, which is its 52-week highest level.
Details of stake in the company
Reliance Industries has a big bet on DEN Networks Limited. According to shareholding pattern:
- Promoter stake: 74.90%
- Public stake: 25%
The promoter group includes:
- Reliance Industries Investments and Holdings Limited
- Jio Futuristic Digital Holdings Pvt Ltd
- Network 18 Media & Investments Limited
- Reliance Ventures Limited
- Jio Television Distribution Holdings Private Limited
Reliance Group is a major investor in DEN Networks through these companies.
DEN Networks: Analysis of Returns
DEN Networks shares have been under constant pressure in recent months. Review performance on BSE index:
- In one month: almost 8% decline
- In three months: decline of about 22%
- Over the six-month and one-year periods: the stock has also performed negatively.
Despite this decline, the recent rally has provided some relief to investors.
Performance of Sensex and Nifty
A slight rise was seen in the market on Friday:
- Sensex: closed at 78,699.07 with a gain of 226.59 points (0.29%). During trading it rose 570.67 points to reach 79,043.15.
- Nifty: closed at 23,813.40 with a gain of 63.20 points (0.27%).
This indicates that there is a positive environment in the market, which may also support stocks like DEN Networks.
