Oricon Enterprises advances on inking term sheet with IIL

11 Apr 2018

Oricon Enterprises is currently trading at Rs. 61.60, up by 1.55 points or 2.58% from its previous closing of Rs. 60.05 on the BSE.

The scrip opened at Rs. 62.05 and has touched a high and low of Rs. 63.50 and Rs. 60.70 respectively. So far 95,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 72.40 on 30-Oct-2017 and a 52 week low of Rs. 47.30 on 26-Mar-2018.

Last one week high and low of the scrip stood at Rs. 63.50 and Rs. 52.50 respectively. The current market cap of the company is Rs. 968.20 crore.

The promoters holding in the company stood at 65.04%, while Institutions and Non-Institutions held 7.58% and 27.37% respectively.

Oricon Enterprises has executed a non binding term sheet with Indiabulls Infraestate (IIL), a subsidiary of Indiabulls Real Estate, for execution of definitive agreements for joint development of company’s land, admeasuring about 3,512 square metres, situated at Worli in Mumbai.

Upon execution of definitive agreements, the company will get exclusive ownership rights of approximately 1.09 lakh square feet leasable area.

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