Venky's in the limelight

Venky’s (India) is currently up almost 6% at Rs.582 levels, with an intra day high at Rs.607.80. Volumes have shot up over 2.3 times.

This sudden spike up of interest in this stock is thanks to Lavasa, the subsidiary of HCC filing a DRHP with SEBI for a Rs.750 crore IPO. Venky’s connection to Lavasa IPO? Well, Venky’s holds 12.79% stake in Lavasa and once the IPO gets the clearances and hits the floors of the bourses, the stake sale is sure to bring a bounty for Venky’s.