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Videocon Industries strengthens on plans to export its air conditioners to Australia

26 Feb 2016 Evaluate

Videocon Industries is currently trading at Rs 109.90, up by 1.25 points or 1.15% from its previous closing of Rs 108.65 on the BSE.

The scrip opened at Rs. 111.00 and has touched a high and low of Rs. 112.40 and Rs. 109.30 respectively. So far 7518 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 167.35 on 20-Apr-2015 and a 52 week low of Rs. 104.35 on 11-Feb-2016.

Last one week high and low of the scrip stood at Rs. 112.40 and Rs. 106.00 respectively. The current market cap of the company is Rs. 3699.12 crore.

The promoters holding in the company stood at 74.63% while Institutions and Non-Institutions held 12.76% and 12.61% respectively.

Consumer durable and home appliances brand Videocon Industries is planning to export its air conditioners to Australia. With Australia, the company expects to raise share of exports in its overall sales for the air conditioner segment.

Currently, the company exports air conditioners to Gulf and SAARC countries. The company had exported about 30,000 air conditioners to Gulf and SAARC countries, with exports forming nine per cent of its total sales.

Add to that, the company is also intending to increase localisation in its air conditioner manufacturing process. Currently, Videocon imports 40% of its components for air conditioner manufacturing, which it intends to reduce to 25%, thereby increasing localisation to 75%.

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.

Videocon Inds. Share Price

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