Mukesh Ambani has many companies which are listed in the stock market, but whose share price is less than Rs 50. One such share is Den Networks Limited. Despite selling in the market last Friday, there was tremendous buying activity in this stock. Let us tell you that Sensex had closed with a fall of 423 points on Friday, while there was a big decline in Nifty also.
current value of share
On the last trading day of the week, shares of DEN Networks Limited gained 2.46%, and the share price reached Rs 40.43. The share price went up to Rs 40.55 during trading. The 52 week low of this stock is Rs 39.46, which was recorded on January 14, which indicates that the stock is once again in recovery mode. Talking about its 52 week high, it is Rs 65.03, which was in February last year.
December quarter results
DEN Networks Ltd. on January 13 released its third quarter results ending December 31, 2024. The company's net profit in this quarter stood at ₹ 40.3 crore, a year-on-year decline of 14.6%, whereas in the same quarter of the last financial year, the company had earned a profit of ₹ 47.2 crore. The company's revenue from operations also declined by 4.5% to ₹260.7 crore as against ₹273 crore.
Ebitda declined 32% to ₹27.6 crore in the quarter from ₹40.6 crore in the same period last financial year. Ebitda margin stood at 10.6% in the quarter, compared to 14.9% a year ago.
Ambani's big investment
Mukesh Ambani's Reliance has a big investment in DEN Networks. As per the shareholding pattern, the promoter holds 74.90% stake. The promoter group includes Reliance Industries Investments and Holdings Limited. Apart from this, Reliance also has stake in Jio Futuristic Digital Holdings, Network 18 Media and others. Reliance Ventures Ltd and Jio Television Distribution Holdings Pvt Ltd also have significant stakes in the company.
The current surge in DEN Networks' stock could be an important opportunity for investors, especially if the company is able to take advantage of Ambani's big investment.
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