Hinduja Ventures acquires shares of unit IMCL
Hinduja Ventures Ltd, a prominent name in Investment Banking, Global investment and International Trading sector has announced that it has acquired 43 lakh equity shares and 7.04 Crore Preference shares of Unit IMCL. Hinduja Ventures Ltd finished at Rs. 418.35, down by Rs. 1.45 or 0.35% from its former closing of Rs. 419.8 on the Bombay Stock Exchange.
The scrip opened at Rs. 415.2 and touched a high and low of Rs. 420 and Rs. 415.2 respectively. Overall of 1982(NSE+BSE) shares were traded on the counter. The present market cap of the company is Rs. 862.92 crore. After acquisition of above shares, the company’s holding in equity capital of IMCL (Indusind Media & Communications Ltd) will increase to 61.91% of the paid up equity capital of IMCL.
The Bombay Stock Exchange group ‘B’ stock of face value Rs. 10 touched a 52 week high of Rs. 466.5 on 30-Nov-2015 and a 52 week low of Rs. 357 on 23-Sep-2015. From last one week high and low of the scrip stood at Rs. 425 and Rs. 408.6 respectively.
The publicists holding in the company stood at 70.82 % while Institutions and Non-Institutions held 4.57 % and 24.6 % respectively. The current status is stock traded above its 200 DMA.
About Group : Hinduja Group is one of the largest and most diversified companies which is globally acknowledged and accredited for its impeccable services. Since its inception in Sind, the cradle of the Indus Valley Civilisation, the company has achieved commendable success.
It has established benchmarks of excellence in its field, under the leadership of Group Chairman Srichand P Hinduja, along with brothers Gopichand, Prakash and Ashok who firmly believe that business is all about spotting opportunities and seizing them. Following and implementing the strategy of ‘seizing opportunities in a globalised world’, Hinduja Group has diversified and expanded its areas of operations. The company has eventually emerged as an international conglomerate with a footprint across 37 countries and a 70,000-strong team.
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