Videocon Industries trades in green on the BSE

Videocon Industries is currently trading at Rs. 175.45, up by 1.25 points or 0.72% from its previous closing of Rs. 174.20 on the BSE.

The scrip opened at Rs. 173.85 and has touched a high and low of Rs. 177.35 and Rs. 173.50 respectively. So far 66432 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 203.00 on 19-Jul-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. 177.65 and Rs. 170.20 respectively. The current market cap of the company is Rs. 5635.88 crore.

The promoters holding in the company stood at 64.87% while Institutions and Non-Institutions held 12.90% and 13.59% respectively. 

Videocon Industries (VIL) step down subsidiary - Videocon Energy Brazil (VEBL) has successfully completed exploration program in ES-M-661 block, BM-ES-24 concession, in the Espirito Santo Basin, Offshore Brasil. Petroleo Brasileiro S.A (Petrobras), the national oil company of Brazil is the operator of the block.

Exploration Well 1-ESS-209, known as ‘Grana Padano’ was successfully drilled up to a depth of 2,961 meters, in a water depth of 1,208 meters by the consortium. In the Albian Sao Mateus formation, an oil column of more than 30 meters (gross), 15 degree API, between 2008-2047 meters, was established, based on logs recorded, lithologies recovered and MDT sampling.

Further, the consortium will continue the activities in the block, and intends to submit to the national agency of petroleum, Natural gas and biofuels (ANP) for a proposed evaluation plan.

Petrobras holds a 40% working interest, Anadarko holds a 30% working interest and IBV Brasil Petroleo, a 50:50 JV Company of Bharat PetroResources and VIL, holds the balance 30% working interest in the block.

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.