DEN Networks 'snaps' limelight

Den Networks has been hitting a new low virtually every day for the past couple of days. But today, the stock opened Rs.4 higher at Rs.128, going on to hit an intra day high at Rs.129.90 and it is currently up some 2% at Rs.127 levels.

The stock is in the limelight today after it announced yesterday after market hours that it has entered into a 50:50 JV with e-commerce portal, Snapdeal.com to launch ‘TV Commerce’ channel – DEN Snapdeal TV Shop. The channel is already available for viewers on channel number 132 of DEN Network and will be extended to other channels and networks over the next 6 months. Within the first year itself, this home shop channel expects to rake in around Rs.500 crore.