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Nava Bharat Ventures surges on receiving nod to divest stake in its subsidiaries

25 Aug 2016 Evaluate

Nava Bharat Ventures is currently trading at Rs. 250.40, up by 11.05 points or 4.62% from its previous closing of Rs. 239.35 on the BSE.

The scrip opened at Rs. 242.40 and has touched a high and low of Rs. 251.00 and Rs. 239.25 respectively. So far 57,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 269.60 on 22-Jul-2016 and a 52 week low of Rs. 128.00 on 12-Feb-2016.

Last one week high and low of the scrip stood at Rs. 264.80 and Rs. 230.30 respectively. The current market cap of the company is Rs. 2,223.26 crore.

The promoters holding in the company stood at 44.31%, while Institutions and Non-Institutions held 26.58% and 27.54% respectively.

Nava Bharat Ventures’ subsidiary - Nava Bharat (Singapore) (NBS), has entered into a Sale and Purchase Agreement to sell 100% equity stake in Nava Bharat Lao Energy (NBLE - wholly owned subsidiary of NBS) and thereby its 70% equity stake in Namphak Power Company, which has been developing the 150 MW hydro power project in Lao PDR, in two tranches. The board of directors at its meeting held on August 24, 2016 has approved for the same.

First tranche of sale for majority equity stake of NBLE has been concluded by NBS and the second tranche for the balance stake would be concluded subject to certain conditions in due course. The transaction upon consummation, is profitable and following that NBLE and thereby NPCL will cease to be subsidiaries of NBS/ Nava Bharat Ventures.

Nava Bharat Ventures operates in the business verticals of power generation, mining, ferro alloys and agri-business with multi-national operations spread over India, South East Asia and Africa.


Nava Share Price

727.10 12.00 (1.68%)
08-May-2026 16:59 View Price Chart
Peers
Company Name CMP
Indian Metal & Ferro 1546.10
Maithan Alloys 1022.70
Nava 727.10
Indsil Hydro Power 41.76
Shyam Century 5.82
View more..

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