Shares of Orient Beverages were locked in the 5-per cent upper circuit for a sixth straight trading day, hitting a five-year high of Rs 179.05 on the BSE on Thursday. The stock has zoomed 54 per cent during the period.
Moreover, in the past one month, the stock has rallied 81 per cen, as compared to 3.8 per cent gain in the S&P BSE Sensex. It was trading at its highest level since July 2017.
Around 4,712 shares have, so far, changed hands on the counter, and there are pending buy orders for 13,256 shares on the BSE, exchange data shows. Currently, the stock is classified in the ‘X’ category on the BSE. X group consists of all those stocks which are only listed on BSE and are settled on a trade-to-trade basis.
Orient Beverages is engaged in the manufacturing, trading and marketing of packaged drinking water and carbonated soft drinks under the trade brand ‘BISLERI’, a pioneer in packaged drinking water industry. It has franchise license from Bisleri International Private Limited (BIPL) for production and distribution of packaged drinking water and carbonated soft drinks. The company has set up its own manufacturing plants in the state of West Bengal. The company has further expanded its business in the state of Jharkhand.
With regards to significant movement in price of the security, Orient Beverages clarified that there is no event or development in the Company, which may be a reason for significant movement in the price of security of our Company and/or we need to make disclosure of the same.
“There are reports in the electronic and print media that the ‘Tata Group’ is in the process of acquisition or has acquired trade brand ‘Bisleri’ against certain consideration. This may be one of reasons for fluctuation in the price of our scrip,” Orient Beverages said. READ HERE
“However, as on date, we have no official communication from BIPL in this regard. Hence, we are not in a position to inform you more details or impact of the deal on our Company,” the company said.