Viaan Industries spikes ahead of next poker league season
The stock of micro-cap, Viaan Industries surged more than 8 per cent in the morning session. The company informed that it has added three additional franchises for its Poker League season.
Viaan Industries offers IP-based interactive games and animations on mobiles, PC & consoles. The company also offers licensing and technology in the financial technology space. It operates in the wellness category through YoYo frozen yoghurt brand.
The stock gain can be attributed to the signing of three more franchises ahead of the next season of Match Indian Poker League to be held in March. This takes the tally of companies participating in the league to 10, who will be competing for a total prize money of Rs. 5 crore. The company also plan to launch a new game Domestic Diva, and an animation show for Viacom.
The company registered revenues of Rs. 128 crore, with a profit of Rs. 13 crore in H1FY18. At 11:08 hours, the stock of Viaan Industries was trading at Rs. 42.85 per share, up 6.59 per cent on Tuesday.