MARKET EYE-India's Videocon surges on Mozambique block sale plan

Thu Feb 21, 2013 11:47am IST

Related Topics

Stocks

   

* Shares in India's Videocon Industries Ltd gain 8.6
percent after the consumer electronics and oil company says it
is in talks to sell its 10 percent stake in an oil and gas block
off the coast of Mozambique and Tanzania.
* Videocon Chairman Venugopal Dhoot tells TV channel ET NOW the
company was in talks with multiple potential buyers, including
Oil and Natural Gas Corp Ltd, for its Rovuma gas
field, confirming earlier media reports.
* Dhoot says Videocon has appointed Standard Chartered Plc
 as an adviser for the sale.
* Videocon's board had approved splitting and selling its oil
and gas assets in August 2012.

 (abhishek.vishnoi@thomsonreuters.com /;
prashant.mehra@thomsonreuters.com)
FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

India Economy

REUTERS SHOWCASE

Reliance Projects

Reliance Projects

Exclusive: Reliance plans $13 billion projects including new refinery.  Full Article 

Pharma Sector

Pharma Sector

In race for bigger margins, drug makers willing to lose the India "advantage".  Full Article 

Low Stocks

Low Stocks

Indian power station coal stocks lowest since 2012 blackouts.  Full Article 

Markets This Month

Markets This Month

Tata Motors, M&M top Sensex gainers  Full Article 

Google Drones

Google Drones

Google is testing unmanned drones to deliver anything from dog food to medicine.  Video 

#RiceBucketChallenge

#RiceBucketChallenge

In India, rice replaces ice in bucket challenge.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage