Videocon Industries gains on board's nod for banking license application

The announcement was made after market hours on Friday, 28 June 2013.

Meanwhile, the S&P BSE Sensex was up 52.68 points or 0.27% at 19,448.49.

On BSE, 35,000 shares were traded in the counter as against average daily volume of 71,031 shares in the past one quarter.

The stock hit a high of Rs 208.15 and a low of Rs 200.20 so far during the day. The stock had hit a 52-week high of Rs 246.25 on 3 December 2012. The stock had hit a 52-week low of Rs 161.10 on 27 July 2012.

The stock had underperformed the market over the past one month till 28 June 2013, sliding 4.76% compared with the Sensex's 3.79% fall. The scrip had also underperformed the market in past one quarter, declining 1.83% as against Sensex's 2.97% rise.

The mid-cap company has equity capital of Rs 318.77 crore. Face value per share is Rs 10.

Videocon Industries reported net loss of Rs 198.96 crore in Q4 March 2013 as against net profit of Rs 50.32 crore in Q4 March 2012. Net sales rose 0.4% to Rs 3002.57 crore in Q4 March 2013 over Q4 March 2012.

Videocon Industries is a well known brand in the consumer electronics and home appliances category offering a full range of products in televisions, washing machines, air-conditioners, refrigerators, audio products, home theatre systems and microwave ovens. The company also has an oil and gas business in the exploration and extraction areas.

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