Videocon ends flat

The stock slipped to a low of Rs 242 and finally ended flat at Rs 243. The counter witnessed trades of 1 million shares as compared to the two-week daily average traded volumes of 1.5 million shares.
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(Updated at 1137hrs)

Videocon has surged following a 12% stake buy in Anadarko Indonesia Nanukan company.

The stock opened at Rs 245 and surged 4% to touch a high of Rs 254. It is now up 2% at Rs 248. Around 657,895 shares have been traded on the BSE so far.

The company along with Bharat PetroResources (BPRL) have brought a 12.5% stake in the Indonesian company through their subsidiaries. The companies have made a capital outlay of $11.13 million each. Videocon, in a filing to the BSE, said the deal will help it strengthen its operation in oil and natural gas exploration and production in Indonesia.