Videocon shares rise over 5

The scrip moved up by 4.85 per cent to Rs 255.70 on the National Stock Exchange.

8220;The stock has shown a good run up which indicates the investor confidence in the consumer durable sector,8221; SMC Global Vice President Rajesh Jain said.

Meanwhile,the broader gauge Sensex was trading at 18,423.12 points,up 0.12 per cent from previous close.

As per market speculations,the company may soon spin off its business into three verticals 8211; consumer goods,telecom and oil amp; gas. There are also reports of company8217;s plans of raising funds through qualified institutional placement QIP route.

The company is engaged in two core businesses8212;consumer electronic products and home appliances,and oil and gas exploration and production. Its subsidiaries include Paramount

Global Ltd,Global Energy Inc,Sky Billion Trading Ltd,Videocon Global Ltd,Venus Corporation Ltd and Powerking Corporation Ltd,among others.