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Videocon Industries soars as its arm defers stake-sale plan

28 May 2014 Evaluate

Videocon Industries is currently trading at Rs 181.00, up by 5.00 points or 2.84% from its previous closing of Rs. 176.00 on the BSE.

The scrip opened at Rs. 178.00 and has touched a high and low of Rs 183.90 and Rs 177.55 respectively. So far 105941 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 232.00 on 11-Jun-2013 and a 52 week low of Rs 153.00 on 09-Dec-2013.

Last one week high and low of the scrip stood at Rs 195.00 and Rs 171.70 respectively. The current market cap of the company is Rs 5769.77 crore.

The promoters holding in the company stood at 68.82% while Institutions and Non-Institutions held 12.15% and 10.86% respectively.

Videocon Industries’ subsidiary -- Next Retail -- has deferred the plan to offload a 40 per cent stake in the company. Earlier, Videocon Industries had said it would sell a 40 per cent stake in Next Retail to a foreign player in 2013. Despite being a multi-brand retailer, Next Retail would now focus on home-grown brands such as Videocon and Electrolux.

Next Retail has shifted its outlets from the metro markets to tier two and three cities where it expects its largest selling Videocon brand to fare better than the strong multinational brands. Almost 25 per cent of its sales come from the Videocon brand in categories such as flat panel TVs and refrigerators.

Further, the company is planning to enhance its presence in states such as Odisha, West Bengal and Andhra Pradesh.

Videocon Industries, established two decades ago, is a global conglomerate with market capitalization of $2.5 billion. Videocon’s businesses’ consists of manufacturing, marketing and distribution of consumer electronics products and oil & gas extraction.

 

Videocon Inds. Share Price

7.25 0.00 (0.00%)
15-Jun-2021 18:01 View Price Chart
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