Den Networks gains 6%, to increase stake in Macro Commerce

Moneycontrol BureauShares of Den Networks gained 5.7 percent intraday Monday as it is going to increase its stake in Macro Commerce.The company has entered into an agreement with Jasper Infotech to increase equity stake in Macro Commerce by subscribing and purchasing equity shares in Macro for Rs 6 crore.The company currently holds 32.87 percent stake in Macro Commerce and post the acquisition it will increase to 82.87 percent.At 10:50 hrs Den Networks was quoting at Rs 92.10, up Rs 2.55, or 2.85 percent on the BSE.Posted by Rakesh Patil