Shares of Heads UP Ventures, formerly known as Mandhana Retail Ventures, hit upper circuit of 10% today after Marutinandan Capital bought 2,53,326 shares of the firm in bulk deals on December 20. The deal was done at a price of Rs 18.61 apiece and the transaction amounted to Rs 47.14 lakh on BSE.
Heads UP Ventures stock rose 10% to Rs 191.4 against the previous close of Rs 17.40 on BSE. Earlier, the stock opened 10% higher on BSE. Heads UP Ventures shares are trading higher than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages. The stock has risen 20.38% in a year.
Total 0.17 lakh shares of the firm changed hands amounting to a turnover of Rs 3.26 lakh in the morning session. Market cap of the firm rose to Rs 42.27 crore on BSE.
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In the second quarter of the current fiscal, net loss widened to Rs 1.59 crore against loss of Rs 1.39 crore in the corresponding period of the previous fiscal.
On a quarter-on-quarter basis, loss narrowed by 0.63% from Rs 1.60 crore in the June quarter. Sales too rose 48.28% to Rs 0.43 crore in Q2 against Rs 0.29 crore in the June quarter.
Heads UP Ventures Limited manufactures apparel and textiles. The company promotes, operates, maintains, establishes, and deals in single and multiple brands for garments, fabrics, apparels, and fashion accessories. The company serves customers worldwide.
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