Network 18 sells 10 lakh shares in Den Networks

MUMBAI: Media conglomerate Network 18 Media & Investments, one of the promoter of Den Networks, on Friday sold 10 lakh shares of the company worth Rs 9 crore.

As per the bulk deal transaction data at stock exchanges, Network 18 Media & Investments sold 10 lakh of shares of Den Networks at Rs 90.90 a piece. However, the identity of the buyer could not be ascertained.

As on December 31, 2011, Network 18 Media & Investments held 64,38,073 shares or 4.93 per cent stake in Den Networks.

Shares of Den Networks surged by five per cent to close at Rs 90.55 a piece on the BSE, while scrip of Network 18 Media & Investments ended at Rs 39.70, down 0.63 per cent on the bourse.