HOV Services up by almost 15%, ahead of merger with Quinpario

Stocks of HOV Services on Wednesday surged almost 15%, following the news of HOV Services combining US-based, SourceHOV & Novitex with Quinpario.

Feb 22, 2017 06:02 IST India Infoline News Service

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Stocks of HOV Services on Wednesday surged almost 15%, following the news of HOV Services combining US-based, SourceHOV & Novitex with Quinpario.

The transaction value of combination of all companies will be at $ 2.8 billion. Also, the combined companies will form an entity named Exela Technologies, which is to be listed on Nasdaq.
 
The stock in a period of one year has delivered 110.78%, outperforming the BSE Small-cap index and the Nifty Service Sector index in the same time span.
 
HOV Services is a business process outsourcing company that operates in North America with multiple locations in the US, and international headquarters in Chennai, India.

Stock view:-
 
HOV Services Ltd is currently trading at Rs 201.85, up by Rs 28.65 or 16.54% from its previous closing of Rs 173.2 on the BSE.
 
The scrip opened at Rs 173.2 and has touched a high and low of Rs 203.9 and Rs 167.8 respectively. So far 3274196(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 217.06 crore.
 
The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 176.8 on 21-Feb-2017 and a 52 week low of Rs 75.1 on 16-Mar-2016. Last one week high and low of the scrip stood at Rs 176.8 and Rs 133.7 respectively.
 
The promoters holding in the company stood at 49.69 % while Institutions and Non-Institutions held 0.1 % and 50.21 % respectively.
 
The stock is currently trading above its 50 DMA.

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