Atmanirbhar focus sends Lava shares soaring in unlisted market

After a prolonged hibernation, shares of the home-grown mobile phone makers are in the limelight again. Investors have cheered this ‘comeback’ and sent the price of unlisted shares of one such player through the roof.

We are talking about Lava International, which has re-entered the market with its flagship brand ‘MyZ’, with phones priced in the Rs 6,999-10,500 range.

The stock has been trading at Rs 400-425 in the unofficial market for unlisted shares, rising from Rs 200-220 a couple of months ago. At current price quoted in the unlisted space, the company is valued at Rs 3,600 crore, just 0.7 times its revenue.