Videocon Industries gained 1.65% to Rs 276.70 at 12:33 IST on BSE after the company said its overseas unit Videocon Energy Ventures has acquired 10% stake in Mozambique’s Rovuma Offshore Area 1 block from US firm Anadarko Petroleum Corporation.
The stock hit a high of Rs 280.90 and a low of Rs 269.65 so far during the day. The stock had hit a 52-week high of Rs 868.65 on 1 January 2008 and a 52-week low of Rs 242 on 24 March 2008.
The company has an equity capital of Rs 229.45 crore. Face value per share is Rs 10.
The current price of Rs 77 discounts its Q3 June 2008 annualised EPS of Rs 44.49, by a PE multiple of 10.13.
Videocon's capital outlay for the transaction is estimated at $78 million, which will be incurred by 2011.
Videocon Industries’ net profit rose 4.1% to Rs 255.07 crore on 18.5% increase in net sales to Rs 2612.90 crore in Q3 June 2008 over Q3 June 2007.
Videocon Industries' principal activity is to manufacture and market consumer electronics and home appliances. The company also has interest in segments like crude oil and natural gas.
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