Shares of Max Ventures and Industries surged as much 20 per cent to Rs 87.05 today after the revised circuit limit came into effect from today.
The Bombay Stock Exchange on Tuesday had revised the circuit limit for Max Ventures to 20 per cent, from 5 per cent earlier.
Following the revision in circuit limit, the shares saw a spurt in trading volume. 8.73 lakh shares were traded on BSE today as compared to its two-week average of 4.52 lakh.
The company's market value currently stands at Rs 437.85 crore. Since its listing on June 22, the stock has surged 93 per cent after its listing at Rs 45.
Max Ventures is one of the three new holding companies formed after demerger of the erstwhile Max India. After Max Financial Services, Max Ventures and Industries is the second company which started trading on the bourses after the demerger of the erstwhile Max India.
Max Ventures provides management services and manages the investment in its manufacturing subsidiary, Max Speciality Films, which is into speciality packaging films business.
The erstwhile Max India's shareholders got one equity share in Max Financial Services for each share held. They also got will also get one equity share of new Max India and one equity share in Max Ventures for every five equity shares of each held in Max India. Max India manages investments in Max Healthcare, Max Bupa and Antara Senior Living.
Max Ventures shares ended 3 per cent higher at Rs 74.80 as compared to a flat closing in broader markets.