Videocon rises 5% as telecom arm forays into security segment

Shares of Videocon Industries jumped 5 per cent on the bourses today, as its telecom arm ventured into Internet-based security and surveillance segment.
On BSE, the shares of Videocon Industries surged 4.82 per cent and settled for the day at Rs 22.85.
The scrip closed at Rs 23.25 on NSE, up 4.97 per cent from the previous close.
The shares breached the upper circuit limit on both the bourses.
Following an uptick in the counter, the market capitalisation of the firm rose to Rs 764.24 crore.
On the volume front, while 12,000 shares of the firm changed hands on BSE, 1.13 lakh were traded on NSE.

Videocon Telecom today unveiled analog and Internet protocol based closed-circuit television (CCTV) camera in the range of Rs 1,500 to Rs 2.5 lakh a unit.
"We have licence for pan-India Internet service. Now, we are building solution over broadband services. Security and surveillance is one of the areas that we see have huge potential. We are expecting Rs 175 crore revenue from this segment in the current fiscal and Rs 1,115 crore by 2021 from sales in retail network," Videocon Telecom CEO Arvind Bali said.