Thomson tube deal wrap-up adds sheen to Videocon

DALAL STREET SPIKES

The Videocon International Ltd scrip was up 7.45 per cent to Rs 97.30 as compared with its previous close of Rs 90.55. The price of the scrip rose after France's Thomson finalised the sale of its television tube operations to the Videocon Group for $289 million, which it again plans to reinvest in two Videocon units.

The company posted a net profit of Rs 66.13 crore for the quarter ended June 2005 as compared to Rs 43.96 crore in the previous year for the same quarter.

Net sales increased 28.39 per cent to Rs 1249.03 crore (Rs 972.81 crore). The promoters hold 35.51 per cent stake in the company as of 30 June 2005.