Hinduja Ventures rose 1.98% to Rs 509.90 at 9:29 IST on BSE after the company said its board approved disinvestment of stake in Hinduja Energy (India).
The announcement was made after market hours yesterday, 22 December 2016.Meanwhile, the BSE Sensex was down 3.44 points, or 0.01%, to 25,976.16.
On the BSE, so far 25 shares were traded in the counter, compared with average daily volumes of 3,109 shares in the past one quarter. The stock had hit a high of Rs 521.25 and a low of Rs 507 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 stock had outperformed the market over the past 30 days till 22 December 2016, falling 0.23% compared with the 0.28% fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 8.90% as against Sensex's 9.38% decline.
The small-cap company has equity capital of Rs 20.56 crore. Face value per share is Rs 10.
Hinduja Ventures said that its board of directors has approved the disinvestment of 4.36 crore equity shares of Rs 10 each held by the company in Hinduja Energy (India), in tranches, as per independent valuation of Rs 31.58 per share to third party.
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.
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