Videocon Inds gains on plans of increasing products offering

Videocon Industries is currently trading at Rs. 174.85, up by 2.75 points or 1.60 % from its previous closing of Rs. 172.10 on the BSE. The scrip opened at Rs. 173.00 and has touched a high and low of Rs. 177.50 and Rs. 173.00 respectively. So far 31775 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 232.00 on 11-Jun-2013 and a 52 week low of Rs. 153.00 on 09-Dec-2013. Last one week high and low of the scrip stood at Rs. 175.25 and Rs. 160.40 respectively. The current market cap of the company is Rs. 5648.63 crore. The promoters holding in the company stood at 68.82 % while Institutions and Non-Institutions held 12.04 % and 10.97 % respectively. Videocon Industries, part of the Videocon Group, is planning to invest Rs 125 crore to launch more products and technologies, beef up its distribution network and promote ACs aggressively across its three brands - Electrolux, Kelvinator and Videocon. The company wants to regain some of its lost market share in the AC category by launching more products and technologies. In recent years, the company saw its market share dwindle after South Korean companies LG Electronics and Samsung Electronics Co started dominating the domestic AC segment. Videocon Industries, established two decades ago, is a global conglomerate with market capitalization of $2.5 billion. Videocon’s businesses’ consists of manufacturing, marketing and distribution of consumer electronics products and oil & gas extraction.