Orient Press heads higher as unit starts commercial production

Orient Press gained 1.09% to Rs 200.15 at 11:11 IST on BSE after the company announced that its Noida unit has commenced commercial production of flexible packaging material from 5 February 2018.

The announcement was made after market hours yesterday, 6 February 2018.

Meanwhile, the S&P BSE Sensex was down 64.16 points, or 0.19% to 34,131.78. The S&P BSE Small-Cap index was up 292.51 points, or 1.68% to 17,684.58, outperforming the Sensex.

On the BSE, 100 shares were traded in the counter so far, compared with average daily volumes of 2,438 shares in the past one quarter. The stock had hit a high of Rs 200.20 and a low of Rs 200.15 so far during the day. The stock had hit a 52-week high of Rs 228 on 28 December 2017. The stock had hit a 52-week low of Rs 59.50 on 2 March 2017.

The stock had outperformed the market over the past one month till 6 February 2018, gaining 5.18% compared with 0.12% rise in the Sensex. The scrip had also outperformed the market in past one quarter, advancing 55.05% as against Sensex's 1.38% rise. The scrip had also outperformed the market in past one year, jumping 184.89% as against Sensex's 20.24% rise.

The small-cap company has equity capital of Rs 10 crore. Face value per share is Rs 10.

Orient Press's net profit jumped 141.3% to Rs 2.22 crore on 16.9% rise in net sales to Rs 63.13 crore in Q2 September 2017 over Q2 September 2016.

Orient Press is into three verticals, namely, commercial & security printing, flexible packaging and printed cartons and is virtually a one-stop shop for printing and packaging solutions.

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