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Orient Electric Ltd.

BSE: 541301 Sector: Consumer
NSE: ORIENTELEC ISIN Code: INE142Z01019
BSE 00:00 | 11 Jun 305.70 1.10
(0.36%)
OPEN

307.45

HIGH

309.50

LOW

304.95

NSE 00:00 | 11 Jun 305.60 0.65
(0.21%)
OPEN

306.90

HIGH

309.60

LOW

304.60

OPEN 307.45
PREVIOUS CLOSE 304.60
VOLUME 10290
52-Week high 344.90
52-Week low 171.10
P/E 54.20
Mkt Cap.(Rs cr) 6,487
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 307.45
CLOSE 304.60
VOLUME 10290
52-Week high 344.90
52-Week low 171.10
P/E 54.20
Mkt Cap.(Rs cr) 6,487
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Orient Electric Ltd. (ORIENTELEC) - Company History

Orient Electric Ltd was incorporated in the year October 10 2016. The Company was a subsidiary of Orient Paper & Industries Ltd. (OPIL). The Company is primarily engaged in manufacture/purchase and sale of Electrical Consumer Durables Lighting & Switchgear products. It presently has manufacturing facilities at Faridabad Noida Kolkata and Guwahati. Orient Electric Ltd. is a subsidiary of Orient Paper & industries Limited.With the objective of unlocking value for shareholders the Consumer Electric Business of its holding company through Scheme of Arrangement between Orient Paper & Industries Limited (OPIL) and Orient Electric Limited (the Company) transferred and vested into the Company with effect from appointed date of March 1 2017. As part of Scheme and pursuant to exemption granted by Securities and Exchange Board of India from application of Rule 19(2)(b) of Securities Contracts (Regulations) Rules 1957 the equity shares of Company got listed on National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) and trading in the equity shares started w.e. f. May 14 2018 on both these stock exchanges. During the year under review no regulator or court has passed any significant and material orders impacting the going concern status of the Company and its future operations. However the Company during the year 2018-19 received notice each from NSE and BSE alleging non-compliance of Regulation 29(2) and (3) of Listing Regulations and each imposing fine of Rs 10000. The Company submitted its response to NSE and BSE clarifying that Company has not made any default in complying with Regulation 29 of the Listing Regulations and requested for waiver of fine. In the absence of any revert from NSE and BSE; the Company paid the fine under protest.

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