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Siti Networks zooms as its arm acquires 51% stake in E-Net Entertainment

17 Dec 2020 Evaluate

Siti Networks is currently trading at Rs. 1.15, up by 0.05 points or 4.55% from its previous closing of Rs. 1.10 on the BSE.

The scrip opened at Rs. 1.15 and has touched a high and low of Rs. 1.15 and Rs. 1.15 respectively. So far 7350 shares were traded on the counter.

The BSE group 'T' stock of face value Rs. 1 has touched a 52 week high of Rs. 2.75 on 28-May-2020 and a 52 week low of Rs. 0.50 on 11-Nov-2020.

Last one week high and low of the scrip stood at Rs. 1.15 and Rs. 0.95 respectively. The current market cap of the company is Rs. 100.29 crore.

The promoters holding in the company stood at 37.54%, while Institutions and Non-Institutions held 15.96% and 46.50% respectively.

Siti Networks's wholly owned subsidiary company -- Siti Broadband Services has completed the transaction pertaining to acquisition of 51% equity stake in E-Net Entertainment. The company has received approval for acquisition of 51% equity stake on September 15, 2020.

Siti Cable Network is engaged in the business of distribution of television channels through analogue and digital cable distribution network, primary Internet and allied services.

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