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Videocon Ind strengthens as its arm discovers new natural gas accumulation

22 Apr 2013 Evaluate

Videocon Industries is currently trading at Rs. 220.00, up by 6.85 points or 3.21% from its previous closing of Rs. 213.15 on the BSE.

The scrip opened at Rs. 215.00 and has touched a high and low of Rs. 227.10 and Rs. 215.00 respectively. So far 32962 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 246.25 on 03-Dec-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. 227.10 and Rs. 200.65 respectively. The current market cap of the company is Rs. 6997.04 crore.

The promoters holding in the company stood at 69.38% while Institutions and Non-Institutions held 10.96% and 11.01% respectively.

Videocon Hydrocarbon Holdings (VHHL), a wholly owned subsidiary of Videocon Industries (VIL) has declared that Anadarko Pertroleum Corporation Operator of Rovumal Block, Offshore Mozambique, has discovered a new natural gas accumulation fully contained within the offshore area 1 of the Rovuma basin.

The Orca-1 discovery well encountered approximately 190 net feet (58 metres) of natural gas pay in a Paleocene fan system.  The Orca 1 exploration well was drilled to a total depth of approximately 16,391 feet (4,996 meters) in water depths of approximately 3,481 feet (1,061 meters).

Anadarko is the operator in the Offshore Area 1 with a 36.5-percent working interest. Co-owners include Mitsui E&P Mozambique Area 1, (20 percent), BPRL Ventures Mozambique B.V. (10 percent), Videocon Mozambique Rovuma 1 (10 percent) and PTT Exploration & Production (8.5 percent). Empresa Nacional de Hidrocarbonetos, ep's 15-percent interest is carried through the exploration phase.

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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