Videocon Industries zooms on Brazilian oil discovery

DALAL STREET SPIKES

Videocon Industries led the group-A pack on the Bombay Stock Exchange, gaining 13.87 per cent to close at Rs 222.85, after the company announced that it has — in a consortium with BPCL's wholly owned subsidiary — struck oil at a block in Brazil.

Videocon, along with Bharat PetroResources, hold 25 per cent interest in the offshore block, located in the Campos Basin in Brazil. The scrip touched an intra-day high of Rs 227 and a low of Rs 193.05, with trading volumes of 3,43,922 shares. The stock has declined 17.31 per cent in the past one month.