Videocon Industries gains after redeeming FCCBs

Videocon Industries was up 0.41% to Rs 121.60 at 12:11 IST on BSE after the company said that it has fully redeemed foreign currency convertible bonds aggregating to $194.40 million which were issued in December 2010.

The announcement was made during trading hours today, 31 December 2015.

Meanwhile, the BSE Sensex was up 42.66 points, or 0.16%, to 26,002.69.

On BSE, so far 22,000 shares were traded in the counter, compared with an average volume of 37,357 shares in the past one quarter.

The stock rose 1.81% at the day's high of Rs 123.30 so far during the day. The stock rose 0.29% at the day's low of Rs 121.45 so far during the day.

The stock hit a 52-week high of Rs 199.80 on 12 January 2015. The stock hit a 52-week low of Rs 115 on 20 August 2015.

The stock had underperformed the market over the past one month till 30 December 2015, sliding 7.24% compared with 0.71% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 12.34% as against Sensex's 0.74% fall.

The mid-cap company has an equity capital of Rs 334.46 crore. Face value per share is Rs 10.

Videocon Industries said that it paid $97.20 million along with the applicable interest and fees in cash and issued another series of foreign currency convertible bonds (FCCBs) of $97.20 million on 30 December 2015 as part of the redemption.

Net profit of Videocon Industries rose 464.93% to Rs 7.57 crore on 2.41% decline in net sales to Rs 3110.63 crore in Q2 September 2015 over Q2 September 2014.

Videocon Industries operates in four segments: consumer electronics and home appliances, crude oil and natural gas, telecommunications and power.

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