Orient Cables Shares Crash 10% After Impressive 65% IPO Debut
· Business · LiveMint, Economic Times
Orient Cables shares crashed 10% to their lower circuit level of ₹363 on Tuesday, October 6, following a strong 65% debut on the BSE a day earlier. The B2B networking equipment manufacturer opened at ₹380 against its previous close of ₹403.30, driven down largely by investor profit booking. Despite the sharp correction, the stock remains 33% higher than its initial public offering issue price of ₹272. Analysts note that investor focus going forward will center on quarterly revenue growth, profitability, order execution, and operating cash flow. The company supplies high-growth sectors including telecom, broadband, data centres, renewable energy, and automotive networking.
Why it matters
Retail investors who bought into the high-profile IPO face immediate volatility as early-stage buyers lock in listing gains.
Read the original report — LiveMint
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