Orient Paper & Industries Ltd approves Rights Issue

At the meeting of the Board of Directors of Orient Paper & Industries Ltd held on September 15, 2016, has decided to raise capital through rights issue of equity shares of the Company for an amount aggregating to Rs. 50 crores at a ratio, price, record date and other matters to be fixed at a later date, subject to necessary approvals.

The Board accorded in-principle consent of the Board for vertical demerger of consumer electric business of the Company into a wholly owned subsidiary (to be incorporated), subject to the final approval of the Board of the proposed terms of the demerger.

Shares of ORIENT PAPER & INDUSTRIES LTD. was last trading in BSE at Rs.77.4 as compared to the previous close of Rs. 79.6. The total number of shares traded during the day was 528800 in over 6624 trades.

The stock hit an intraday high of Rs. 82.8 and intraday low of 75.5. The net turnover during the day was Rs. 41982251.

Source : Equity Bulls

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