Videocon Inds is top gainer

Videocon Industries is currently the top gainer on the BSE, up 7% at Rs.199 and this is after hitting an intra day high at Rs.203.50. Volumes are up 4.5 times.

This sudden jump up in the stock price of the otherwise sedate price of Videocon Inds is on the back of news that Videocon d2h, its satellite TV arm and direct to home service provider, is likely to go ahead with its IPO plan this fiscal. The company had received the SEBI approval in 2013 but did not go ahead with the IPO due to poor market conditions. With things now showing signs of improvement, the company is planning to go ahead with its IPO. At that time, it had planned to raise Rs.700 crore. With SEBI’s approval lapsing, the company will now initiate the entire process all over again.