Videocon gains on new discovery in Sergipe-Alagoas basin - The New Indian Express

Videocon gains on new discovery in Sergipe-Alagoas basin

Published: 11th December 2012 11:18 AM

Last Updated: 11th December 2012 11:18 AM

Videocon Industries gained on Tuesday after it announced that Petrolea Brasileiro SA (Pertrobras), the operator of SEAL-M-349 block in BM-SEAL-11 concession, Brasil said that it has discovered the light hydrocarbons in the concession, located in ultra deep waters of Sergipe Algoas Basin.

The discovery was made during drilling of well 1-SES-166 informally known as 'Cumbe', situated in a water depth of 2313 m, located 109 km from the city of Aracaju. Shares ofthe companyare trading at Rs 238.80, up Rs 6.35, or 2.73% at the Bombay Stock Exchange (BSE) on Tuesday at 10:03 a.m.The scrip has touched an intra-day high of Rs 242 and low of Rs 232.30. The total volume of shares traded at the BSE is 173,795.In the earlier session, the shares climbed 0.26%, or Rs 0.59, at Rs 232.45. Currently, the stock is trading down 3.03% from its 52-week high of Rs 246.25 and above 48.23% over the 52-week low of Rs 161.10.

Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 231.10 1.35 0.58 1 Month 169.60 62.85 37.06 3 Months 179.00 53.45 29.86 6 Months 173.10 59.35 34.29 1 Year 172.25 60.20 34.95 Note: Based on previous day closing price.

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