Max Ventures and Industries shares hit upper circuit for second day

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New Delhi | Published: June 23, 2016 9:53:38 AM

Shares of Max Ventures and Industries Limited (MVIL), one of the three new holding companies formed after demerger of the erstwhile Max India Limited, hit upper circuit on Thursday for the second trading session after the listing on bourses on Wednesday.

max venture, bse sensexShares of Max Ventures and Industries Limited (MVIL), one of the three new holding companies formed after demerger of the erstwhile Max India Limited, hit upper circuit on Thursday for the second trading session after the listing on bourses on Wednesday. (Photo: Reuters)

Shares of Max Ventures and Industries Limited (MVIL), one of the three new holding companies formed after demerger of the erstwhile Max India Limited, hit upper circuit on Thursday for the second trading session after the listing on bourses on Wednesday.

The share pirce of Max Ventures and Industries locked in at upper circuit of nearly 5 per cent on BSE and NSE both. The share price of MVIL surged 4.97 per cent to Rs 49.60. Shares of MVIL listed on bourses at Rs 45 on Wednesday.

MVIL is the second company to start trading on the bourses after the demerger of the erstwhile Max India. Max Financial Services, (previously known as Max India Limited) had already started trading post demerger on January, 2016.

MVIL provides management services and manages the investment in its manufacturing subsidiary, Max Speciality Films (MSF), which is in the Speciality Packaging Films business.

The company recently incorporated a wholly-owned subsidiary, Max Estates Limited, which will undertake Real Estate development projects.

MVIL had also recently announced its intent to invest in Azure Hospitality Pvt Ltd through its wholly owned investment subsidiary.

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