PVV Infra zooms; stocks up by 6%

PVV Infra on Thursday said that its board has approved the acquisition of 55% stake in MR Energy Pvt. Ltd.

Jan 20, 2017 06:01 IST India Infoline News Service

Construction
PVV Infra on Thursday said that its board has approved the acquisition of 55% stake in MR Energy Pvt. Ltd.
PVV Infra is trading up by 6% at Rs 13.8 per share on the BSE. The stock has delivered 53.56% returns in a period of one year. The stock has outperformed the BSE Small-cap index and the Nifty Infrastructure index in a period of one year.
The company has shifted its focus from infrastructure to low cost housing and “Swachh Bharat Abhiyan”, which is a initiative by the government.

Stock view:

PVV Infra Ltd is currently trading at Rs 13.71, up by Rs 0.7 or 5.38% from its previous closing of Rs 13.01 on the BSE.

The scrip opened at Rs 13.5 and has touched a high and low of Rs 13.9 and Rs 13.15 respectively. So far 108592(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 6.51 crore.

The BSE group 'XD' stock of face value Rs 10 has touched a 52 week high of Rs 16 on 04-Jan-2017 and a 52 week low of Rs 6.42 on 10-Jun-2016. Last one week high and low of the scrip stood at Rs 13.5 and Rs 11.31 respectively.

The promoters holding in the company stood at 2.99 % while Institutions and Non-Institutions held 0 % and 97.01 % respectively.

The stock is currently trading above its 50 DMA.

Related Story