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Media Video Ltd (MVL) stock would get re-listed on the Bombay Stock Exchange on Friday after the end of a suspension period since October 3 for giving effect to a major change in the underlying business. The stock was also dropped from the BSE Small-Cap Index from that date.

With effect from February 15, 2007, MVL’s real-estate division stands demerged and transferred to MVL Infrastructure Ltd, an unlisted company. Smart Buildwell, MVL’s wholly-owned subsidiary, has also been merged with MVL Infrastructure Ltd.

On October 1, the stock had closed at Rs 76.55, representing a 66.45 per cent gain over the preceding one month.

Currently, the standalone paid-up equity of MVL remains unchanged at Rs 23.48 crore and the reserves has gone up marginally to Rs 52.93 crore from the pre-demerger figure of Rs 52.56 crore, according to the company sources.

Market buzz is that MVL, now a pure consumer electronics play, is setting up a joint venture with a US company for security devices — access control systems, motion detectors, gas leak and fire alarms, and CCTV including remote video surveillance.

Mr Prem Adip Rishi, CMD of MVL, when contacted by Business Line, declined to comment on the subject, but he confirmed that the company was looking for new business areas including electronic security devises for expansion. “Growing industrial infrastructure, townships and real estates are opening up new business opportunities for such electronics gadgets”, he said.

Market sources maintain that a Rs 200-crore project for setting up a manufacturing facility is in the pipeline.The quarter ended September 30, 2007 saw MVL’s turnover grow 90 per cent to Rs 71.22 crore.

Jayanta Mallick

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