V2 Retail shares surged nearly 12 per cent on Tuesday after it informed bourses that the company has opened three more operational stores at Gorakhpur and Azamgarh in the state of Uttar Pradesh and Purnia in Bihar state. The company has further closed a store located at Varanasi in Uttar Pradesh. Therefore there are currently 20 stores which are operational.
The share price of the company closed 11.70 per cent up at Rs 48.20. Sensex settled 0.26 per cent down at 24,900.46.
The promoters holding in the company stood at 61.47 per cent while institutions and non-institutions held 0.09 per cent and 38.43 per cent respectively.
For the quarter ended December 2015, the company reported net profit of Rs 2.11 crore, down 75.21 per cent, against Rs 8.50 crore in the corresponding quarter a year ago.
V2 Retail is a retail company in India. It offers a portfolio of products, including apparel and non-apparel. The company sells readymade, apparels, household merchandise and other consumer goods like footwear, toys, games, cosmetics, home furnishing, decor product, sports items, crockery, novelties and gifts.