Videocon zooms 7% despite dip in net profit
The stock gained 11% to a high of Rs 202 and finally settled at Rs 194 - up 7%. Over 2.49 million shares were traded at the counter today.
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(Updated at 1337 hrs)
Videocon Industries has soared despite reporting a 51% decline in net profit.
The scrip is now trading at Rs 196, up around 8% from the previous close.
The stock opened at Rs 183, touched a low of Rs 182 and then zoomed to a high of Rs 201, up 10% from the previous close.
The stock has clocked volumes of 1.90 million shares as compared to 524,348 shares on the BSE.
Videocon Industries has posted a 51.24% decline in its net profit at Rs 124.35 crore for the June quarter as compared to Rs 255 crore in the previous quarter, a year ago.
The income from operations also declined to Rs 2,461 crore as compred to Rs 2,613 crore in the corresponding period, last year.