SITI Cable Network shares surged over 7 per cent intraday on Wednesday on reports that the company is planning to buy Den Networks for Rs 2,000 crore. Den Networks, however, has denied the news reports and said that it would not comment on any market speculation.
At 1.59 pm, SITI Cables shares were trading 1.25 per cent up at Rs 36.40. The scrip opened at Rs 37 and has touched a high and low of Rs 38.65 and Rs 36.15, respectively, in trade so far.
Later, the scrip closed 0.42 per cent up at Rs 36.10. Sensex closed 0.51 per cent down at 25101.
Den Networks Ltd shares closed 0.62 per cent down at Rs 88.