Midcap Consumer Durable Stock Fixes Record Date For 75% Dividend, BoB Capital Suggests " Hold"
Orient Electric Ltd.( ORIENTEL) is a Consumer Durable sector stock having a market capitalisation of Rs 6,022.08 crore.
The share price of ORIENTEL on Friday closed at Rs 283.10 apiece on NSE. is The stock's 52- week high is Rs 358 apiece recorded on 7 April 2022 and 52 week low Rs 244 apiece recorded on 20 June 2022, respectively.
It was listed on 14 May 2018. Since its listing on the stock exchange, it has given 102 .21 % robust return.
The stock in a week has given 6 .85 % and in 1 month it gave 7 .66%, respectively. In the past 3 months, it gave 5 .38 % positive return.
Orient Electric Ltd. Declared 75% Interim Dividend
The Interim Dividend of Rs. 0.75/- ( 75%) per equity share of face value of Rs.
Thursday 1 each for the financial year 2022 - 23 and have fixed, the Interim Dividend will be paid to the entitled shareholders within 30 days from the date of declaration.
BoB Capital Market Maintain HOLD for target price of Rs 290/ share
According to the BoB Capital, Now that its non- compliant inventory of fans has been exhausted, ORIENTEL is focusing on higher- end BLDC fans, with distribution realignment and product launches expected to boost performance medium term.
We continue to value the stock at 35 x P/ E - a 30 % discount to the 3 Y average on 2 Y forward basis.
The stock has been picked from the brokerage report of BoB Capital.
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By Shubham Kumar Goodreturns source: goodreturns.in Dailyhunt