Videocon up 6% on Encana buy

DALAL STREET SPIKES

Videocon Industries surged 5.8 per cent to Rs 229.95 after the company said that its overseas unit VB Petroleo has acquired 100 per cent stake in Encana Brasil Petroleo of Brazil for $165 million.

The scrip opened at Rs 227.20 and went on to achieve a high of Rs 233.90 and a low of Rs 222 during intra-day trading. A total of 222,468 shares changed hands. The stock has slipped by 20.31 per cent in the last one month. Videocon Industries is mainly involved in manufacture of comsumer electronics. The firm also has interests in crude oil and natural gas.