01-01-1970 12:00 AM | Source: Accord Fintech
Oricon Enterprises moves up on getting nod to acquire balance stake in United Shippers
News By Tags | #1363 #572

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Oricon Enterprises is currently trading at Rs. 26.50, up by 0.60 points or 2.32% from its previous closing of Rs. 25.90 on the BSE.

The scrip opened at Rs. 26.20 and has touched a high and low of Rs. 26.75 and Rs. 25.90 respectively. So far 38420 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 44.80 on 31-Dec-2021 and a 52 week low of Rs. 22.55 on 20-Jun-2022.

Last one week high and low of the scrip stood at Rs. 29.30 and Rs. 23.70 respectively. The current market cap of the company is Rs. 416.96 crore.

The promoters holding in the company stood at 66.52%, while Institutions and Non-Institutions held 1.60% and 31.88% respectively.

Oricon Enterprises has received an approval for acquisition of equity shares of United Shippers (USL), a material subsidiary, by purchase of 69,896 Equity Shares from its existing shareholder(s) which would result in increase in company's holding in United Shippers from 35,16,849 Equity Shares i.e. 98.05% to 35,86,745 i.e. 100% and USL will become wholly-owned subsidiary. The Board of Directors of the Company at their Meeting held on Monday, December 26, 2022 has considered and approved the same.

The company is engaged in the business of manufacturing petrochemical products and developing real estate.