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Oricon Enterprises trades jubilantly on acquiring 70% stake in Oriental Containers

31 Mar 2015

Oricon Enterprises is currently trading at Rs. 55.25, up by 3.55 points or 6.87% from its previous closing of Rs. 51.70 on the BSE.

The scrip opened at Rs. 52.90 and has touched a high and low of Rs. 55.70 and Rs. 52.70 respectively. So far 306334 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 71.40 on 19-Mar-2015 and a 52 week low of Rs. 17.60 on 03-Apr-2014.

Last one week high and low of the scrip stood at Rs. 57.50 and Rs. 46.65 respectively. The current market cap of the company is Rs. 811.94 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 (OEL) has acquired 70% stake in Oriental Containers (OCL) from its joint venture partners OC Holding, Mauritius, at a consideration of Rs 105 crore. With this, OCL has become OEL’s 100% subsidiary.

Engaged through its subsidiaries in the business of marine logistics, packaging, automobile distribution and petrochemical, OEL has a consolidated turnover of nearly Rs 1000 crore. Also, the company holds nearly three acres of land parcel in Worli, Mumbai, which is slated for development in the near future.

Oricon Enterprises is engaged in the business of manufacturing petrochemical products and developing real estate.

Related Oricon Enterprises Ltd. Links:

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323