on Dec 13th 2016, The Mandhana Retail Ventures Limited locked in upper circuit of 5% at Rs 227 on the BSE on the first day of its listing after demerger from Mandhana Industries. On the National Stock Exchange (NSE), the stock locked at upper price band of Rs 224.
On Dec 14th 2016, Mandhana Retail has informed BSE that ace investor Rakesh Jhunjhunwala has bought 12.7% stake in the company via off market deal. off market deal is simply the purchase or sale of investment property, which takes place, or is negotiated, outside of a formal, public marketplace. The transaction is negotiated in a private environment that is controlled by the seller and/or seller’s broker.
The stock of The Mandhana Retail Ventures too locked in lower circuit of 5% at Rs 215, its lowest level since listing on December 14, 2016. A combined 75,732 shares changed hands and there were pending sell orders for 84,365 shares on both the exchanges so far.
Mandhana Retail News Sentiment during 14th and 15th Dec 2016
After two consecutive upper circuits on Dec 14th and Dec 15th started making three consecutive lower circuits despite the news that Big Bull taken stake in The Mandhana Retail Ventures limited. Currently trading around 201.75 locked in a lower circuit and down by 5%. No Buyers appeared so far and the liquidity in the counter is low so far.