Videocon Industries (CMP=Rs 222)reports a consortium of the company has struck oil at a block in Brazil.
The stock has a 52-week high of Rs 868.65 on 1 January 2008 and a 52-week low of Rs 182.30 on 30 September 2008.
The company’s current equity is Rs 229.45 crore. Face value per share is Rs 10.
The current price of Rs 222 discounts Q3 June 2008 annualized EPS of Rs 44.49, a PE multiple of 4.99.
In August 2008, the company’s overseas unit Videocon Energy Ventures acquired 10% stake in Mozambique’s Rovuma Offshore Area 1 block from US firm Anadarko Petroleum Corporation.
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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