Videocon may be better known for consumer durables, but the company's little known oil exploration business is the star and the promoters may be set to make that into a money-spinner.
Videocon Industries,India's leading consumer durables maker, surprisingly, does not have sale of electronic appliances as its major revenue churner. Instead, it's the oil and gas exploration and production business, which is the cash cow.
According to sources, Videocon is looking at unlocking their value by either hiving off the business or going for a public listing overseas. While chairman Venugopal Dhoot did not reveal the details, he accepted that an expert has been roped in to look into the various options.
Venugopal Dhoot, chairman of Videocon Industries, said, "We expect good recovery from Brazil in a year or two and our oil and gas business is currently doing extraordinarily well.
Videocon Industries,India's leading consumer durables maker, surprisingly, does not have sale of electronic appliances as its major revenue churner. Instead, it's the oil and gas exploration and production business, which is the cash cow.
According to sources, Videocon is looking at unlocking their value by either hiving off the business or going for a public listing overseas. While chairman Venugopal Dhoot did not reveal the details, he accepted that an expert has been roped in to look into the various options.
Venugopal Dhoot, chairman of Videocon Industries, said, "We expect good recovery from Brazil in a year or two and our oil and gas business is currently doing extraordinarily well.
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29/09/09
videocon moves up , tested 258.
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