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Videocon Industries trades higher on the bourses

Videocon Industries Ltd. | Consumer Durables - Electronics | Consumer Durables | BSE: 511389 | NSE: VIDEOIND

06 Sep 2012 Evaluate

Videocon Industries is currently trading at Rs. 174.00, up by 0.45 points or 0.26% from its previous closing of Rs. 173.55 on the BSE.

The scrip opened at Rs. 175.00 and has touched a high and low of Rs. 176.45 and Rs. 172.75 respectively. So far 29243 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 196.00 on 02-Mar-2012 and a 52 week low of Rs. 161.10 on 27-Jul-2012.

Last one week high and low of the scrip stood at Rs. 177.15 and Rs. 172.15 respectively. The current market cap of the company is Rs. 5530.69 crore.

The promoters holding in the company stood at 64.87% while Institutions and Non-Institutions held 12.74% and 13.75% respectively.

Videocon Industries, controlled by billionaire Venugopal Dhoot, is planning to put on block its 10% stake in Mozambique’s Rovuma-1 offshore block, where more gas has been discovered than in Libya’s entire reserves, for a consideration of $3 billion, as mentioned in some media reports. Further, the company for this is in talks with companies including Royal Dutch Shell Plc.

The sale of this block will be help the group retire Rs 20,000 crore ($3.6 billion) of debt and reclaim mobile-phone licences in India that were scrapped by the Supreme Court earlier this year. Supreme Court canceled 21 of Videocon Telecommunication’s licences, among the 122 permits being scrapped in February.

Anadarko operates Offshore Area 1 of Mozambique jointly with five other companies and has a working interest of 36.5%. The working interests of the other co-owners are Mitsui E&P Mozambique Area 1 (20%), Empresa Nacional de Hidrocarbonetos, ep (15%), BPRL Ventures Mozambique B.V. (10%), Videocon Mozambique Rovuma 1 (10%), and Cove Energy Mozambique Rovuma Offshore (8.5%).

Videocon in 2008 paid $75 million for the 10% stake in Mozambique’s Rovuma-1 area to Anadarko Petroleum Corp, which leads the group exploring the reserves.

Videocon Inds. Share Price

7.25 0.00 (0.00%)

15-Jun-2021 18:01 View Price Chart

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