 "Videocon Industries up 5% after falling 83% in 25 trading days")
Videocon Industries is locked in upper circuit of 5% at Rs 18.05, recovering 10% from its 52-week low of Rs 16.35 hit on BSE in early morning trade, on the back of heavy volumes.
Till 11:38 am; a combined 14 million equity shares representing 4.5% of total equity of Videocon Industries have changed hands on BSE and NSE, the exchange data shows.
Since May 19, 2017, in past 25 trading days, the stock of consumer electronics Company tanked 83% from Rs 100.45 to Rs 17.20 on Friday, June 23, 2017. On comparison, the S&P BSE Sensex was up nearly 3% during the period.
According to media reports, Crompton Greaves Consumer Electricals backed by private equity heavyweights Advent and Temasek is seen as the front-runner in the early stages of ongoing negotiations for Videocon Industries’ Kenstar brand.
Earlier in April, Business Standard reported that a host of Indian consumer electronics companies like Havells and Voltas, besides private equity companies, are in a race to buy out Videocon Industries’ Kenstar brand to increase their market share. Videocon is selling Kenstar to reduce its debt, at Rs 43,000 crore as of March this year. CLICK HERE TO READ FULL REPORT.
Till 11:38 am; a combined 14 million equity shares representing 4.5% of total equity of Videocon Industries have changed hands on BSE and NSE, the exchange data shows.
Since May 19, 2017, in past 25 trading days, the stock of consumer electronics Company tanked 83% from Rs 100.45 to Rs 17.20 on Friday, June 23, 2017. On comparison, the S&P BSE Sensex was up nearly 3% during the period.
According to media reports, Crompton Greaves Consumer Electricals backed by private equity heavyweights Advent and Temasek is seen as the front-runner in the early stages of ongoing negotiations for Videocon Industries’ Kenstar brand.
Earlier in April, Business Standard reported that a host of Indian consumer electronics companies like Havells and Voltas, besides private equity companies, are in a race to buy out Videocon Industries’ Kenstar brand to increase their market share. Videocon is selling Kenstar to reduce its debt, at Rs 43,000 crore as of March this year. CLICK HERE TO READ FULL REPORT.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%