Videocon Industries spurts over 3% post stake sale in Mozambique block

Posted By: Religare
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Shares of Videocon Industries rose over 3 per cent in early trade on Bombay Stock Exchange (BSE) after the company sold 10 per cent stake in a giant gas field off Mozambique.

Oil India along with ONGC Videsh Limited (OVL) has acquired 100 per cent shares in Videocon Mozambique Rovuma 1 Limited.

Following stake sale, shares of company gained as much as 3.31 per cent to trade at Rs 485.50 a piece on the BSE.

In a similar fashion, shares of the company advanced 2.00 per cent to Rs 181.20 a piece on National Stock Exchange.

Meanwhile, the broader benchmark Sensex was quoting at 20,765.96, up 72.72 points or 0.36 per cent at 9:40 hours.

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