HOV Services is locked in upper circuit for seven consecutive days, up 5% at Rs 81.05, also its 52-week high on the Bombay Stock Exchange (BSE).
A combined around 41,000 shares have changed hands on the counter so far and there are pending buy orders for 35,000 shares on the BSE and NSE.
Shares of the company engaged in business processing outsourcing (BPO) business has rallied 50% from Rs 54 on November 12, after reported a net profit of Rs 1.23 crore for the first six months (April-September) of the current financial year 2013-14. The company had profit of Rs 1.42 crore in entire previous fiscal.
Meanwhile, the stock has zoomed nearly 200% in past two months from Rs 28 on a media report that the company has put its BPO Company -SourceHOV for sale. SourceHOV is jointly owned by Citigroup Venture Capital International and HOV Services.
On clarification on news item, the company in a regulatory filing on October 28, said “the company has a step down subsidiary in the US which holds about 27.2 % shares of SourceHOV Inc. Citigroup Venture Capital International (CVCI) is a Private Equity group with many investments and is the majority shareholder in SourceHOV and keeps exploring several options for sale of different assets of CVCI including SourceHOV, which is a common practice among private equity groups.”
A combined around 41,000 shares have changed hands on the counter so far and there are pending buy orders for 35,000 shares on the BSE and NSE.
Shares of the company engaged in business processing outsourcing (BPO) business has rallied 50% from Rs 54 on November 12, after reported a net profit of Rs 1.23 crore for the first six months (April-September) of the current financial year 2013-14. The company had profit of Rs 1.42 crore in entire previous fiscal.
Meanwhile, the stock has zoomed nearly 200% in past two months from Rs 28 on a media report that the company has put its BPO Company -SourceHOV for sale. SourceHOV is jointly owned by Citigroup Venture Capital International and HOV Services.
On clarification on news item, the company in a regulatory filing on October 28, said “the company has a step down subsidiary in the US which holds about 27.2 % shares of SourceHOV Inc. Citigroup Venture Capital International (CVCI) is a Private Equity group with many investments and is the majority shareholder in SourceHOV and keeps exploring several options for sale of different assets of CVCI including SourceHOV, which is a common practice among private equity groups.”
