Creditable performance, share closes up almost 14%
Trading in the shares of Hindustan Media Ventures Limited (HMVL) began yesterday on the BSE and NSE. The company had launched its IPO in a price band of Rs 162 to Rs 175 to raise Rs 270 crs. The issue price fixed was Rs 166. The issue had received a decent response on the last day which saw the issue getting over subscribed. Retail interest was a little muted in this issue.
The share began trading on the BSE at Rs 170 and made a high of Rs 191.90. The open was the low on the exchange. On the NSE the share opened at Rs 177.95, a high of Rs 191.85 and a low of Rs 174.15. Trading volumes were brisk with a total of 4.15 cr shares being traded. The issue size was 1.626 cr shares which mean that the traded volume as a percentage of IPO size was 2.55 times. Delivery volume was 64.07 lakh shares which is 15.43% of the traded volume and 39.39% of the IPO size.
| Exchange | Open | High | Low | Close | Net Change | % gain | Wt Avg | Volume | Delivery | Del % age |
| BSE | 170.00 | 191.90 | 170.00 | 189.20 | 23.20 | 13.98 | 184.40 | 14943690 | 2150047 | 14.39 |
| NSE | 177.95 | 191.85 | 174.15 | 188.95 | 22.95 | 13.83 | 184.63 | 26590264 | 4257219 | 16.01 |
| Total | 41533954 | 6407266 | 15.43 |
The share saw good volumes, reasonable deliveries and not much retail interest in the stock. The share is likely to remain in positive territory today. Results for this quarter and the coming one are going to be very interesting as they get ready to take on ‘Dainik Bhaskar’ who launches its newspaper in Ranchi and Jharkhand state in the coming month.
The share was expensive at the issue price and with this 13-14% rise becomes that much more expensive.
