Hinduja Ventures up 3% on divestment of stake in Hinduja Energy

Moneycontrol BureauShares of Hinduja Ventures gained 3 percent intraday Wednesday on disinvestment of its stake in Hinduja Energy (India)."The company has disinvested 6,11,47,056 equity shares of Hinduja Energy (India) at a profit and fully realised the sales proceeds," company said in press release.The board of directors of the company at its meeting held on October 26, 2016 and December 22, 2016 had approved disinvestment of said shares of Hinduja Energy.The company had invested in 6,11,47,056 equity shares, valued at Rs 10 each of Hinduja Energy at aggregate value of Rs 187,10,99,914 in November 2013.The share price of the company has gained 30 percent in last one year.At 09:34 hrs Hinduja Ventures was quoting at Rs 511, up Rs 15.30, or 3.09 percent on the BSE.Posted by Rakesh Patil