Shares of Max Ventures and Industries Ltd (MVIL), one of the three new holding companies formed after demerger of the erstwhile Max India Ltd, started trading on the bourses today, surging 5 per cent from the opening price.
The stock opened at Rs 45 and later touched a high of Rs 47.25, reflecting a gain of 5 per cent from the listing price on BSE.
On the NSE, shares of the company got listed at Rs 45.
The listing will unlock value for the shareholders of erstwhile Max India, the company had said in a statement yesterday.
MVIL will be the second company to start trading on the bourses after the demerger of the erstwhile Max India. Max Financial Services (previously known as Max India Ltd) had already started trading post demerger in January.
MVIL provides management services and manages the investment in its manufacturing subsidiary, Max Speciality Films (MSF), which is in the speciality packaging films business.