Oriental Carbon & Chemicals’ share price reached a 52-week high of ₹361.05 on Tuesday, July 16, and extended its gains for the seventh consecutive session. The stock also reached its 20% upper circuit in the prior session on July 15, rising more than 67 percent in these seven days.
Furthermore, the stock increased by 137% from its 52-week low of ₹152.34, which was reached on June 4, 2024, to a new year-high. The stock has increased by 81 percent just in July.
This rise comes after the company’s annual report, which indicated optimism about a rebound as global prices begin to ease. The report revealed a 14% decrease in standalone revenue for FY24, at ₹397 crore from ₹465 crore in FY23. Profit after tax fell by 2% to ₹43 crore, from ₹43.7 crore in the previous fiscal year.
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