Cholamandalam Investment and Finance Company, Brooks Laboratories, PVR, Shipping Corporation of India are among the other stocks to see a surge in volumes on BSE today, 2 September 2016.
Triveni Turbine clocked volume of 77.28 lakh shares by 13:38 IST on BSE, a 474.59-times surge over two-week average daily volume of 16,000 shares. The stock shed 0.04% to Rs 128.85.
Cholamandalam Investment and Finance Company notched volume of 24.24 lakh shares, a 52.99-fold surge over two-week average daily volume of 46,000 shares. The stock lost 6.33% to Rs 1,094.40.
Brooks Laboratories saw volume of 5.53 lakh shares, a 29.05-fold surge over two-week average daily volume of 19,000 shares. The stock jumped 18.24% to Rs 119.25.
PVR clocked volume of 89,000 shares, a 12.97-fold surge over two-week average daily volume of 6,831 shares. The stock surged 8.45% to Rs 1,283.15. According to reports, Asia's largest film group and theatre operator Wanda Cinema, owned by China's richest man, Wang Jianlin has revived talks with Ajay Bijli, the promoter of PVR, to buy a controlling stake in PVR which is India's largest multiplex operator. Dalian Wanda Group has reportedly started diligence on PVR's books as a prelude to make a formal offer to acquire the Indian company. As on 30 June 2016, promoters held 25.26% stake in PVR.
Shipping Corporation of India saw volume of 13.45 lakh shares, a 10.28-fold rise over two-week average daily volume of 1.31 lakh shares. The stock gained 8.95% to Rs 71.80. As per reports, Shipping Corporation of India (SCI) is planning to revive a 40-year-old joint venture with an Iranian company to beat slowdown in the shipping industry. SCI holds 49% of the Iranian joint venture firm, Irano Hind Shipping, while Islamic Republic of Iran Shipping Lines controls the rest. SCI and Islamic Republic of Iran Shipping Lines had in 2012 reportedly decided to dissolve the Tehran-based joint venture, after years of sanctions against Iran over its disputed nuclear program crimped trade flows. Those restrictions began easing in January 2016.
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