Oriental Carbon shares surge 9% as BofA buys stake in Rs 300-crore microcap firm

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June 11, 2025

Oriental Carbon shares surge 9% as BofA buys stake in Rs 300-crore microcap firm

Oriental Carbon & Chemicals shares climbed as much as 8.8% on Wednesday to Rs 329.05 on BSE, after Bank of America (BofA) acquired 53,428 shares in the company via a block deal on Monday. The shares were purchased at Rs 289.53 apiece, taking the total deal value to approximately Rs 1.5 crore.The company, which manufactures insoluble sulphur—including customised and value-added grades—has a market capitalisation of Rs 302 crore on the NSE.Also Read: Swiggy, Radico Khaitan among 7 stocks on which brokerages initiated coverage, see up to 34% upsideThe stock is low on volatility and has traded with a 1-year beta of 0.9.The company reported a consolidated net profit of Rs 90 lakh in the quarter ended March 31, 2025, versus Rs 14 crore in the year-ago period. Revenue also fell sharply to Rs 29 crore, down from Rs 127 crore in the year-ago period.Also Read: JSW Steel, Aurobindo Pharma among 6 large & midcap firms with promoter pledge decline in Q4Oriental Carbon share price target and performanceAccording to Trendlyne, the average target price for Oriental Carbon is Rs 132, indicating a potential downside of about 56% from current levels. One analyst covering the stock has a ‘Strong Buy’ rating.On the technical front, the stock’s Relative Strength Index (RSI) stands at 83.9, suggesting it is in overbought territory and may see a pullback. Meanwhile, the MACD is at 10.1 and is above both its centerline and signal line, indicating a bullish trend.Also Read: Civil War has begun! Rich Dad Poor Dad author Robert Kiyosaki warns of global chaos, backs Bitcoin as the only safe havenShares of Oriental Carbon closed 20% higher at Rs 302.4 on the BSE in the previous session, outperforming the Sensex, which slipped 0.06%. The stock is up 31% year-to-date and has surged 80% over the past three months.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)