Stock in Focus: Orient Technologies Posts Strong income & Profit

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Orient Technologies Reports Sharp Rise in Earning Per Share

By S Jha

New Delhi, November 12: Orient Technologies reported a net income of ₹22.5 crores in the September quarter. The Mumbai-based IT solutions provider had reported a net income of ₹14.9 crore in the June quarter.

Orient Technologies also declared a net profit of ₹15 crore for the second quarter. The profit in the previous quarter was ₹9.8 crores.

The shares of Orient Technologies closed at ₹392 after the close of the trading session on Monday. The recently-listed Orient Technologies is trading at a PE valuation of 37.32 currently.

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The earning per share of Orient Technologies after the second quarter result is ₹4.15. The earning per share of Orient Technologies after the June quarter result was ₹2.59. The earning per share has significantly risen for Orient Technologies after the September quarter result.

Orient Technologies Limited was incorporated in July 1997. It is a rapidly expanding IT solutions provider, with deep expertise in creating specialized products and solutions within its business verticals. Its verticals include data centres and cloud businesses.

The face value of the shares of Orient Technologies Limited is ₹10. RoCE and RoE (Return on Capital Employed and Return on Equity) of Orient Technologies Limited stand at 34 and 27.3 respectively. Both the parameters above 25 are seen as favourable for a stock.

The highest value of the shares of Orient Technologies Limited historically is ₹414 and the lowest is ₹247. The current trading price at ₹392 translates to an all-time gains of just 17.58 per cent.

On the chart, the shares of Orient Technologies Limited saw massive spike in the trading volume on November 5 and 6. Chartists claims that shares of Orient Technologies Limited gave breakout on November 4 with massive rise in the volume.

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The sharp rise in the trading volume in shares of Orient Technologies Limited came a week ahead of announcement of the second quarterly result. Orient Technologies Limited has maintained RoE above 32 for over three years.

The foreign institutional investors hold 3.56 per cent stakes in Orient Technologies Limited. The Domestic Institutional Investors have just 1.20 per cent stakes. The public held stake in Orient Technologies Limited is 22 per cent.

There has been a massive spike in share prices of IT solutions providers such as E2E and Netweb. Traders are keeping close eyes on the performances of Orient Technologies Limited after the announcement of the September quarter results.

Disclaimer: This article makes no recommendation for buy or sell of shares of any company. Stock market investing requires strict adherence to discipline and acquiring knowledge.

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