Hinduja Ventures rose 3% to Rs 511 at 9:25 IST on BSE after the company said it has disinvested its stake in Hinduja Energy (India).
The announcement was made after market hours yesterday, 17 January 2017.Meanwhile, the S&P BSE Sensex was up 104.18 points, or 0.38%, to 27,329.82
On the BSE, so far 439 shares were traded in the counter, compared with average daily volumes of 2,950 shares in the past one quarter. The stock had hit a high of Rs 511 and a low of Rs 506 so far during the day. The stock hit a 52-week high of Rs 600.70 on 1 November 2016. The stock hit a 52-week low of Rs 365.10 on 12 February 2016.
The small-cap company has equity capital of Rs 20.56 crore. Face value per share is Rs 10.
Hinduja Ventures said that the company had invested in 6.11 crore shares of Hinduja Energy (India) at Rs 187.10 crore in November 2013. The company's board of directors had on 22 October 2016 and 22 December 2016 approved the disinvestment of its stake in Hinduja Energy (India). Accordingly, the company has disinvested 6.11 crore shares of Hinduja Energy (India) at a profit and fully realised the sale proceeds, Hinduja Ventures said.
Net profit of Hinduja Ventures declined 0.04% to Rs 28.19 crore in Q2 September 2016 over Q2 September 2015. Net sales was reported at Rs 51.95 crore in Q2 September 2016. No sales were reported in Q2 September 2015.
Hinduja Ventures operates across three segments: media and communication, real estate, and investment and treasury.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content