Videocon Industries jumped 7.10% to Rs 199.20 at 10:25 IST on BSE on reports that the company' satellite TV arm Videocon d2h is likely to go ahead with its proposed initial public offer this financial year.
Meanwhile, the BSE Sensex was up 46.35 points, or 0.18%, to 25,870.10.
On BSE, so far 4.22 lakh shares were traded in the counter, compared with an average volume of 1.23 lakh shares in the past one quarter.
The stock hit a high of Rs 203.50 and a low of Rs 189.60 so far during the day. The stock hit a 52-week high of Rs 211.05 on 10 June 2014. The stock hit a 52-week low of Rs 153 on 9 December 2013.
The stock had outperformed the market over the past one month till 3 July 2014, rising 4.32% compared with 3.88% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 15.24% as against Sensex's 14.73% rise.
The mid-cap company has an equity capital of Rs 318.77 crore. Face value per share is Rs 10.
According to reports, direct to home service provider Videocon d2h is likely to go ahead with its proposed public float (IPO) plan this financial year.
Videocon d2h had reportedly received the permission from market regulator Securities and Exchange Board of India (Sebi) in March 2013 for its proposed Rs 700 crore IPO, but did not launch the same due to bad market conditions.
Videocon d2h caters to 11 million customers and has been growing at 40% annually, Videocon director Saurabh Dhoot told the media on Thursday, 4 July 2014.
Videocon Industries reported net loss of Rs 64.94 crore in Q3 March 2014 as against net loss of Rs 198.96 crore in Q3 March 2013. Net sales rose 2.36% to Rs 3073.47 crore in Q3 March 2014 over Q3 March 2013.
Videocon Industries is a manufacturer and distributor of consumer electronics and home appliances in India. Their full range of products includes televisions, washing machines, air conditioner, refrigerators, microwave ovens and other home appliances. The company also has an oil and gas business in the exploration and extraction areas.
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