Videocon Industries gains on raising Rs 282 crore from GDR issue

Videocon Industries is currently trading at Rs. 171.05, up by 0.85 points or 0.50% from its previous closing of Rs. 170.20 on the BSE.

The scrip opened at Rs. 170.00 and has touched a high and low of Rs. 171.70 and Rs. 169.75 respectively. So far 26199 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 219.00 on 30-Jun-2011 and a 52 week low of Rs. 162.00 on 25-Nov-2011.

Last one week high and low of the scrip stood at Rs. 177.15 and Rs. 169.75 respectively. The current market cap of the company is Rs. 5183.19 crore.

The promoters holding in the company stood at 68.24% while Institutions and Non-Institutions held 12.58% and 14.36% respectively.

Videocon Industries, a diversified business house, has raised Rs 282 crore at the current rupee dollar exchange rate through its $51.02 million Global Depository Receipts issue. It has allotted 1.575 crore equity shares for 1.575 crore GDR at a price of $3.2395 a GDR.

The company has reported 69.81% drop in standalone net profit at Rs 50.32 crore for the first quarter ended March 31, 2012 as compared to Rs 166.69 crore in the same period of previous fiscal.

Videocon Industries, established two decades ago, is a global conglomerate with market capitalization of $2.5 billion. Videocon’s businesses’ consists of manufacturing, marketing & distribution of consumer electronics products and oil & gas extraction.