BPL has surged over 4% to Rs 22 after the company announced that its board has approved divesting stake in Bharat Energy Ventures to raise Rs 115.41 crore.
The board has approved disinvestmnet of 11,54,14,000 equity shares of Rs 10/- each held as investment in Bharat Energy Ventures Ltd, BPL said in a release.
The said shares will be sold at a fair value of Rs 10/- each to Electronic Research Private Ltd, the release said.
The stock opened at Rs 21.90 and touched a high of Rs 22.55 so far. Over 285,000 shares were traded on both the stock exchanges so far.
