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Aditya Birla Nuvo gains despite subsidiary surrendering Category ‘B’ COR to RBI

12 Aug 2014 Evaluate

Aditya Birla Nuvo is currently trading at Rs. 1429.35, up by 8.95 points or 0.63% from its previous closing of Rs. 1420.40 on the BSE.

The scrip opened at Rs. 1425.00 and has touched a high and low of Rs. 1438.00 and Rs. 1416.80 respectively. So far 2795 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1515.00 on 09-Jun-2014 and a 52 week low of Rs. 996.40 on 22-Aug-2013.

Last one week high and low of the scrip stood at Rs. 1491.85 and Rs. 1392.70 respectively. The current market cap of the company is Rs. 18557.27 crore.

The promoters holding in the company stood at 57.23 % while Institutions and Non-Institutions held 27.45 % and 12.88 % respectively.

Aditya Birla Nuvo’s subsidiary - ABNL Investment has voluntarily surrendered the Category ‘B’ Certificate of Registration (COR) of Non Banking Finance Company (NBFC) (Non Accepting Deposits) to Reserve Bank of India (RBI) and has requested cancellation of the said registration.

The company has taken this step as the income from its non-financial assets is more than the income arising out of the financial assets and that it does not intend to carry on the business of NBFC activities.

Aditya Birla Nuvo is a $4.5 billion conglomerate by revenue size. The company, part of Aditya Birla Group, is present across financial Services, telecom, fashion & lifestyle, IT-ITeS and manufacturing businesses

Peers
Company Name CMP
Grasim Industries 2718.25
DCM Shriram 1225.85
3M India 31394.15
Hindustan Foods 509.15
Balmer Lawrie & Co 176.20
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