Hinduja Ventures gains on divestment

Hinduja Ventures has informed the bourses of divestment of 61,147,056 shares of Hinduja Energy. The decision of the board to divest was taken last year.

The company's stock has gained 3 per cent intra-day. In the last one year, the stock has given a return of 29 per cent and in the last three years, it has given a return of 21.58 per cent on an annualised basis. However, during the same period, the Small-cap index has given a return of 15.38 per cent. In the last five years, the stock has given a return of 9.31 per cent on an annualised basis. The stock is trading at a P/E of 10.11 and has outperformed the BSE Small-cap index.
 
Birla Sun Life Mutual Fund is the only fund house that has invested in the stock.