Orient Paper & Industries soars 6% after Q2 results

India Infoline News Service | Mumbai | October 17, 2016 16:22 IST

The company reported a net profit of Rs 2.8 crore for the quarter-ended September, against a net loss of Rs 26 crore.

Stock Market
Orient Paper & Industries Ltd ended at Rs 88.35, up by Rs 3.65 or 4.31% from its previous closing of Rs 84.7 on the BSE.
 
The company reported a net profit of Rs 2.8 crore for quarter-ended September, against a net loss of Rs 26 crore. The company reported net sales of Rs 397 crore for the three-month period, compared to Rs 362 crore from the previous year.

The company approved a demerger proposal for its consumer electric business. It also said it plans to list the business after the demerger, according to its filing to the exchanges.

The scrip opened at Rs 85 and touched a high and low of Rs 92.6 and Rs 83.4 respectively. A total of 5576589 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 1735.24 crore.

The BSE group 'B' stock of face value Rs 1 touched a 52 week high of Rs 87.8 on 06-Oct-2016 and a 52 week low of Rs 23.35 on 09-Nov-2015. Last one week high and low of the scrip stood at Rs 87.6 and Rs 79.7 respectively.

The promoters holding in the company stood at 38.23 % while Institutions and Non-Institutions held 17.85 % and 43.92 % respectively.

The stock traded above its 50 DMA.

***Note: This is a NSE Chart

 

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