Hinduja Ventures held 2,29,08,626 equity shares of Rs 10 each constituting 5.23 per cent of the equity paid up capital HLFL at an average price of Rs 20.19 per share.
Hinduja Ventures Ltd (HVL) today reported an increase of 4.89 per cent in its standalone net profit at Rs 35.99 crore for third quarter through December.
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.
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The company at its meeting held December 22, has approved the disinvestment of 4,36,47,056 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.
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The company added that the transaction pegged IMCL equity valuation of Rs 3,444.06 crore as per independent valuation by third party.
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When asked about revenue guidance, Mansukhani said that they have a stable income of Rs 40 crore from trade of securities. But income from the process of cable TV digitisation may vary.
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It had posted a standalone net profit of Rs 23.92 crore in the corresponding quarter last fiscal, Hinduja Ventures Ltd (HVL) said in a statement.
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The company had posted a net profit of Rs 17.78 crore in January-March quarter a year-ago, HVL said in a BSE filing.
Hinduja Ventures's total income from operations stood at Rs 181.23 crore in the October-December 2015 quarter as compared to Rs 32.94 crore during the same period a year ago.
Firstcall Research is bullish on Hinduja Ventures and has recommended buy rating on the stock with a target price of Rs 450 in its research report dated October 19, 2015.
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Hinduja Ventures Ltd on Wednesday said it would provide cable TV services through Headend-In-The-Sky (HITS) system under the brand 'NXT Digital'.
On May 6, 2015 Aasia Exports bought 428,553 shares of Hinduja Ventures at Rs 451.53 on the NSE.
Here‘s a list of ten 10 stocks that are in focus today on the back of their quarterly earnings that came over the weekend and other major developments.
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