Shares of Aditya Birla Nuvo jumped over 6 per cent, hitting 52-week high, on the Bombay Stock Exchange after the media reported that Aditya Birla group company had entered a joint venture with MMI Holding.
According to Economic Times report, AB Nuvo's joint venture with South African financial services firm MMI Holdings will allow Aditya Birla company to enter into India's lucrative health insurance market.
Riding high on JV with MMI Holdings, shares of company gained as much as 6.49 per cent and touched 52-week high in intra-day trade to trade at Rs 1197.65 a piece on Bombay Stock Exchange.
In a similar fashion, stocks of the company rose 5.33 per cent to Rs 1,185.00 apiece on National Stock Exchange.
Meanwhile, the broader benchmark BSE Sensex was trading at 26,462.94, up 59.98 points, or 0.23 per cent, at 11:35 hours.