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Orient Electric debuts on exchanges and hits upper circuit

Tuesday, May 15, 2018

India’s leading consumer electrical player, Orient Electric Limited, yesterday got listed at Rs. 135.25 on the Bombay Stock Exchange (BSE) & National Stock Exchange (NSE) and hit the upper circuit limit of 5% to Rs 142. The listing follows the demerger of the company from Orient Paper & Industries Limited last year. With the stroke of the ceremonial bell at BSE, the equity shares of Orient Electric Limited started trading on BSE and NSE.

Commenting on the listing of Orient Electric, Rakesh Khanna, MD & CEO, Orient Electric Ltd said,“The vertical demerger of Consumer Electrical business of Orient Paper & Industries Ltd into an independent listed entity is part of a well thought out strategy to unlock true potential of this business, thus enhancing shareholder’s value. It will allow both Orient Paper Industries Ltd and Orient Electric Ltd to focus on their core competencies and to pursue their independent strategies.”

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