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Orient Paper & Industries rises on plan to demerge its consumer electric division

16 Sep 2016 Evaluate

Orient Paper & Industries is currently trading at Rs. 80.45, up by 0.85 points or 1.07% from its previous closing of Rs. 79.60 on the BSE.

The scrip opened at Rs. 80.80 and has touched a high and low of Rs. 81.20 and Rs. 80.10 respectively. So far 21,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 84.30 on 15-Sep-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. 84.30 and Rs. 71.35 respectively. The current market cap of the company is Rs. 1,648.17 crore.

The promoters holding in the company stood at 38.23%, while Institutions and Non-Institutions held 19.83% and 41.94% respectively.

Orient Paper & Industries has received an approval to demerge its consumer electric division. The board of directors at its meeting held on September 15, 2016 has approved for the vertical demerger of its consumer electric division. This step will facilitate both paper and consumer electric businesses to focus on their core competencies and to pursue their independent strategies.

The company would also issue fresh equity in the form of a rights issue worth Rs 50 crore to reduce debt and for general corporate purposes. The proceeds from the rights issue shall be used to reduce debt of the company and for general corporate purposes.

Orient Paper & Industries, which has manufacturing capacity of about 85,000 tonnes of paper, also produces fans, lightings, appliances and switch gears in the consumer electric segment.


Orient Paper & Inds. Share Price

18.60 -0.61 (-3.18%)
20-Apr-2026 14:45 View Price Chart
Peers
Company Name CMP
JK Paper 368.30
TN Newsprints 140.20
West Coast Paper 487.05
Emami Paper Mills 73.07
Seshasayee Paper 267.90
View more..

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