Siti Cable Network shares gained on Thursday after it achieved the landmark of 4 million digital customers as on Mar. 31, 2014. Encouraged by the significant improvement in the performance in FY13-14 and to support the aggressive growth plan to grow subscriber base to 10 million in FY 14-15, the promoters have invested additional Rs 2,430 million in the business.

As per the approval received from Foreign Investment Promotion Board (FIPB) in March 2013 to raise Rs 3,240 million from promoter entities, the company has already received first tranche Rs. 810 million in March 2013 and this is balance tranche fund of Rs 2,430 million. With this total promoter shareholding rises to 72.82%.

The funds will be utilized primarily for business expansion and to partially reduce debt

Shares of Siti Cable Network are trading at Rs 21.75, up Rs 0.8, or 3.82% at the Bombay Stock Exchange (BSE) on Thursday at 11:35 a.m.

The scrip has touched an intra-day high of Rs 22.10 and low of Rs 21.10. The total volume of shares traded at the BSE is 254,475.

In the earlier session, the shares lost 0.48%, or Rs 0.1, at Rs 20.95.

Currently, the stock is trading down 23.55% from its 52-week high of Rs 28.45 and above 66.67% over the 52-week low of Rs 13.05.