Business Daily from THE HINDU group of publications
Wednesday, Dec 05, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Wednesday, Dec 05, 2007 ePaper | Mobile/PDA Version |
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Stocks Corporate - Restructuring Columns - Ear to the ground Videocon jumps on market buzz The stock of Videocon Industries has been attracting a lot of investor interest in the last couple of days. If market rumours are to be believed, then the company is at an advance stage to set up 3,200-MW power plant. An eventual de-merger of the power company and separate listing on the bourses might also be in the offing. These were accompanied by market talk that the company has entered into a tie-up with a coal company in Malaysia, presumably to address the issue of fuel-supply. However, Mr Venugopal N. Dhoot, Group Chairman, denied them as mere speculation. Shares of Videocon Industries have jumped over 40 per cent in the last two days. The stock closed at its all-time of Rs 590 on the BSE on Tuesday. It has been gaining 20 per cent — hitting the upper circuit — on each of the last two days. Trading volumes have also seen significant surge in the counter. On Tuesday, it saw a volume of 28.13-lakh shares against its two-week average figure of 12.31-lakh shares on the BSE. Jayanta Mallick K.S. Badri Narayanan More Stories on : Stocks | Restructuring | Ear to the ground
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