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Videocon Industries soars as its arm divests Mozambique Offshore Asset

26 Jun 2013 Evaluate

Videocon Industries is currently trading at Rs. 211.90, up by 10.85 points or 5.40% from its previous closing of Rs. 201.05 on the BSE.

The scrip opened at Rs. 206.00 and has touched a high and low of Rs. 214.50 and Rs. 204.25 respectively. So far 244807 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. 230.50 and Rs. 193.50 respectively. The current market cap of the company is Rs. 6759.55 crore.

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

Videocon Industries’ wholly owned Mauritius based subsidiary Videocon Mauritius Energy  (VMEL) has on 25th June 2013 executed at Singaporea Share Sale & Purchase Agreement (SSPA) with ONGC Videsh (OVL) and Oil India (OIL) for sale of its 100% stake in Videocon Mozambique Rovuma 1 (VMRL) for a consideration of $2.475 billion.

VMRL holds 10% participating interest in the Offshore Area 1 in Rovuma Basin in Mozambique (the Offshore Area 1), which recently has had series of sizeable natural gas discoveries.

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

Videocon Inds. Share Price

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