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Our Bureau

Mumbai, June 30 The de-merged entity of Media Video Ltd, MVL, listed at Rs 61.25 on the NSE on Monday.

The stock touched an intra-day high of Rs 130 and a low of Rs 44 before closing up 55.18 per cent or Rs 33.8 from its listing price at Rs 95.05. A total of 2.2 crore shares were traded on the NSE.

On the BSE, the stock opened at Rs 50 and touched an intra-day high of Rs 127.90 before closing at Rs 96.2. A total of 2.3 crore shares changed hands on the counter.

The Delhi High Court, had last year, approved the de-merger of the real estate unit of Media Video Ltd into MVL Ltd. Under the scheme of arrangement, Smart Buildwell Ltd, a wholly owned subsidiary of Media Video, and five other firms were merged with MVL Ltd.

On the other hand, the de-merged entity of GMR Industries, GMR Ferro Alloys and Industries, listed at Rs 139.65 and closed down at Rs 92.5 on the NSE.

A total of 54.16 lakh shares were traded of the stock on the NSE.

On the BSE, the stock closed down 34 per cent from its listing price at Rs 92.3. A total of 51.32 lakh shares were traded on the BSE.

The Andhra Pradesh High Court, in 2007, had approved the scheme of arrangement to transfer the Ferro Alloys Division of GMR Industries to GMR Ferro as ongoing concern basis.

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