Oricon Enterprises is currently trading at Rs 65.70, up by 2.10 points or 3.30% from its previous closing of Rs 63.60 on the BSE.
The scrip opened at Rs 65.00 and has touched a high and low of Rs 71.40 and Rs 64.50 respectively. So far 18014461 shares were traded on the counter.
The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 66.90 on 13-Mar-2015 and a 52 week low of Rs 17.50 on 24-Mar-2014.
Last one week high and low of the scrip stood at Rs 66.90 and Rs 57.20 respectively. The current market cap of the company is Rs 1062.43 crore.
The promoters holding in the company stood at 74.28% while Institutions and Non-Institutions held 12.31% and 13.42% respectively.
Oricon Enterprises has received an approval to acquire 70% shares comprising 75,74,644 equity shares of Rs 10 each of Oriental Containers, its Joint Venture Company (JVC), engaged in the business of manufacture of packaging products, from OC Holding, Mauritius at a consideration of Rs 105.00 crore. The board of directors at their meeting held on March 16, 2015 had taken the note of it.
The above is subject to approvals and permissions, if any. The acquisition would be funded through the company’s internal resources and borrowings including interest free loans from directors. With this acquisition Oriental Containers will become its wholly owned subsidiary.
Oricon Enterprises is engaged in the business of manufacturing petrochemical products and developing real estate.
