Videocon Industries shines on investing Rs 100 crore to upgrade air conditioners range

20 Feb 2015

Videocon Industries is currently trading at Rs. 166.55, up by 7.15 points or 4.49% from its previous closing of Rs. 159.40 on the BSE.

The scrip opened at Rs. 162.00 and has touched a high and low of Rs. 168.40 and Rs. 162.00 respectively. So far 149248 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 211.05 on 10-Jun-2014 and a 52 week low of Rs. 154.95 on 16-Dec-2014.

Last one week high and low of the scrip stood at Rs. 168.40 and Rs. 158.80 respectively. The current market cap of the company is Rs. 5331.27 crore.

The promoters holding in the company stood at 65.60% while Institutions and Non-Institutions held 11.05% and 11.04% respectively.

In a bid to upgrade its air conditioners range with new technology and enhanced media spends, Videocon Industries has invested over Rs 100 crore. With a single digit market share at 8% in air conditioners segment, the home-grown company is hoping to double this share on the back of its new ‘Wi-Fi enabled’ AC range which can be controlled using a smartphone app.

Pegged between Rs 35,000 to Rs 41,000, the Wi-Fi range of split air-conditioners are being manufactured at Videocon’s Aurangabad plant and will also be exported to West Asia and the Saarc nations. The company has already assigned Rs 60 crore for R&D spends for this range and has assigned another Rs 45 crore towards advertising and marketing spends this summer for the category.

With 6,000 dealers and 586 after sales franchises, Videocon Industries is also tapping into the online space by selling through its own site as well as other portals.

Videocon Industries, established two decades ago, is a global conglomerate. Videocon’s businesses consist of manufacturing, marketing and distribution of consumer electronics products and oil & gas extraction.

 

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Puchho Befikar
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