Monday, 22 February 2016

Important Stock Market News: SITI Cable jumps 2.5%

SITI Cable Network jumped 2.5% to Rs.35.10 on BSE. SITI Cable Network, an Essel Group Company has received fresh promoter funding amounting to Rs 530 crore. As part of this Rs. 530 crore capitalization, SITI Cable board allotted 8.57 crore equity shares to promoter group entities. With this, total promoter holdings in SITI Cable has now increased to 69.8%.  In addition, 5.71 crore warrants and 5.1 crore Optionally Fully Convertible Debentures (OFCD) were also issued to promoter group companies.
The scrip opened at Rs. 36 and has touched a high and low of Rs. 36.8 and Rs. 35.15 respectively. So far 291862(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 2320.89 crore.
Stock Premium Tips

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 41.7 on 05-Jan-2016 and a 52 week low of Rs. 27.5 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 34.65 and Rs. 32 respectively.
The promoters holding in the company stood at 66 % while Institutions and Non-Institutions held 21.82 % and 12.18 % respectively.

The stock is currently trading below its 50 DMA.


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