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Videocon Industries soars on the buzz of divesting 26% stake in telecom arm

08 Oct 2013 Evaluate

Videocon Industries is currently trading at Rs. 182.30, up by 6.25 points or 3.55% from its previous closing of Rs. 176.05 on the BSE.

The scrip opened at Rs. 177.30 and has touched a high and low of Rs. 190.50 and Rs. 176.50 respectively. So far 231796 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. 163.75 on 31-Jul-2013.

Last one week high and low of the scrip stood at Rs. 190.50 and Rs. 173.00 respectively. The current market cap of the company is Rs. 5823.96 crore.

The promoters holding in the company stood at 69.39% while Institutions and Non-Institutions held 11.36% and 11.08% respectively.

Videocon Industries is reportedly looking to divest 26% stake in its telecom arm. In this regard, the company is in talks with one European and two US companies. The deal is expected to fetch around Rs 15,000 crore.

In separate development, Videocon Telecom is planning to bid for 900 MHz licence for Delhi in the upcoming spectrum auction, and has appointed consulting firm Deloitte to formulate a business plan for the same.

Videocon Industries, established two decades ago, is a global conglomerate whose business consists of manufacturing, marketing and distribution of consumer electronics products and oil & gas extraction.

 

Videocon Inds. Share Price

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15-Jun-2021 18:01 View Price Chart
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