Videocon to bring Mozambique gas to India
Venugopal Dhoot, chairman at Videocon Industries said, ?We will bring our share of natural gas from the mega field to India and sell it here through long term contracts.? He stating that details would be decided by the consortium partners only after January 17, 2012.
Analysts view the development as positive for Videocon. Harinder Kumar, head of research at Elara Capital says, ?Although it would be early to say what the contracts would be based on, but it is expected they would be on import parity and would provide Indian companies the much needed resource security.?
AK Prabhakar, head of research at Anand Rathi said that Videocon is currently undervalued due to corporate governance issues and investors reservations towards the stock.
Source: http://c.moreover.com/click/here.pl?r5687069580
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