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Siti Networks trades higher on the bourses

Siti Networks is currently trading at Rs. 1.11, up by 0.05 points or 4.72% from its previous closing of Rs. 1.06 on the BSE.

The scrip opened at Rs. 1.11 and has touched a high and low of Rs. 1.11 and Rs. 1.02 respectively. So far 8101239 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 1 has touched a 52 week high of Rs. 2.75 on 28-May-2020 and a 52 week low of Rs. 0.50 on 13-Nov-2020.

Last one week high and low of the scrip stood at Rs. 1.11 and Rs. 0.82 respectively. The current market cap of the company is Rs. 96.80 crore.

The promoters holding in the company stood at 6.10%, while Institutions and Non-Institutions held 12.52% and 81.37% respectively.

Siti Networks and Hinduja Group’s Headend-in-the-Sky platform Nxtdigital have entered into an infrastructure sharing agreement. The move, the first of its kind, will have two conventional competitors share Infrastructure, heralding a new era of collaboration in the digital platform space. Nxtdigital presently has a subscriber base of over five million. This move is in line with Siti’s strategy of enhancing its operational efficiencies. Siti will leverage the Headend-in-the-Sky platform to deliver its signals to its local cable operators (LCOs), thus providing its services to semi-urban and rural subscribers, while also expanding its footprint across the country through satellite.

Siti Networks is engaged in the business of distribution of television channels through analogue and digital cable distribution network, primary Internet and allied services.

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