Videocon promoters up stake in firm to over 21%

Promoters of diversified business firm Videocon Industries have increased their stake in the company to 21.68% by buying shares from the open market.

In a filing to the Bombay Stock Exchange (BSE), the company said promoter group firms Shree Dhoot Trading and Agencies, Dome-Bell Electronics India, Evans Fraser and Co India, Leo Communications and Platinum Appliances -- have acquired 6,052,927 shares equivalent to two% stake in the firm, Videocon Industries.

The company said the four promoter group firms, which earlier had 19.68% stake in it, bought the shares by "way of creeping acquisition from the open markets" during the period between December 10, 2010 and March 11, 2011.

 

Videocon Industries scrip closed at Rs 185, up 0.98% from the previous close on the BSE.