Orient Electric trades higher on eyeing good growth in revenue in FY24 from fans, cooler business
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Orient Electric is currently trading at Rs. 274.80, up by 1.10 points or 0.40% from its previous closing of Rs. 273.70 on the BSE.
The scrip opened at Rs. 275.00 and has touched a high and low of Rs. 275.30 and Rs. 271.60 respectively. So far 5026 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 356.95 on 11-Apr-2022 and a 52 week low of Rs. 245.00 on 26-Dec-2022.
Last one week high and low of the scrip stood at Rs. 280.00 and Rs. 265.00 respectively. The current market cap of the company is Rs. 5835.64 crore.
The promoters holding in the company stood at 38.42%, while Institutions and Non-Institutions held 32.79% and 28.79% respectively.
Orient Electric (OEL) is eyeing a good growth in revenue in FY24 from its fans and cooler business. With summer approaching, Orient Electric expects a natural drift in growth coming from the fan segment, housing segment and the replacement market.
OEL operates in consumer durables, lighting and switchgear products. In 2021-22, its revenue from operations was Rs 2,448 crore. It has two segments, Electrical Consumer Durables (ECD), which contributed 73 per cent of its business in FY22, while the rest 27 per cent came from Lighting and Switchgear segment (L&S).
Orient Electric has established itself in the market as a one-stop brand for lifestyle electrical solutions which include fans, lighting, home appliances and switchgears.
.jpg)
