Videocon Industries plans thermal power plants with investment of Rs 25k crore

Videocon Industries has announced that the company will enter power generation with a capacity of 5000 MW of electricity. The company has plans to invest Rs 25k crore and is already looking for land in states of West Bengal, Chhattisgarh and Gujarat.

The company plans to raise money with equity and debt to finance the projects. Videocon Industries is also looking for a global partner to step into power generation sector. Industry experts believe that Videocon may also be looking at private equity placement to some big investor.

Power Sector is looking good and there are many stocks which can be bought with a long term target. Torrent Power, Tata Power and Reliance Energy are some stocks from energy / power sector which can offer decent returns to long term investors.

Videocon Industries, was suggested as a short term buy, by TopNews team few days back. The stock has been touching 52-week highs since the counter was recommended. The stock price has gained quite nicely over past few weeks. The stock is still looking good for long term investment as the company is fundamentally strong.