Nava Bharat Ventures rose 2.76% to Rs 122.85 at 10:36 IST on BSE after Reliance Mutual Fund bought 39.70 lakh shares of the company at an average price of Rs 112 per share in a bulk deal on the NSE yesterday, 15 September 2016.
Meanwhile, the S&P BSE Sensex was up 346.88 points or 1.22% at 28,759.77.
On BSE, so far 2.16 lakh shares were traded in the counter as against average daily volume of 1.13 lakh shares in the past one quarter. The stock hit a high of Rs 127.80 and a low of Rs 121.35 so far during the day. The stock had hit a 52-week high of Rs 134.80 on 22 July 2016. The stock had hit a 52-week low of Rs 64 on 12 February 2016. The stock had outperformed the market over the past one month till 15 September 2016, advancing 4.7% compared with 0.93% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 9.85% as against Sensex's 6.31% rise.
The small-cap company has equity capital of Rs 35.72 crore. Face value per share is Rs 2.
HC Mauritius sold 40 lakh shares at an average price of Rs 112.01 per share in this deal.
On a consolidated basis, Nava Bharat Ventures' net profit fell 32.1% to Rs 29.21 crore on 9.3% decline in net sales to Rs 313.72 crore in Q1 June 2016 over Q1 June 2015.
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Nava Bharat Ventures operates in the business verticals of power generation, mining, ferro alloys and agri-business with multi-national operations spread over India, South East Asia and Africa.
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