Orient Cables shares dropped 10% on October 6, the day after listing at a 65% premium on the BSE. The stock opened at ₹380 against a previous close of ₹403.30 and hit its lower circuit at ₹363, though this price remains 33% above its issue price of ₹272, according to livemint.com.
The stock debuted at ₹448 on October 5, reflecting strong initial demand. The sharp decline the next day is attributed to profit booking by investors seeking to lock in gains from the premium listing. Market watchers noted that the fall to the lower circuit level was a reaction to this selling pressure rather than company-specific negative news, per livemint.com.
Orient Cables operates as a B2B manufacturer specializing in networking cables and passive networking equipment, serving sectors such as telecom, broadband, data centers, renewable energy, and automotive. The company has a global footprint with exports to countries including the UAE, USA, Australia, and the Netherlands. Its revenue has grown steadily, from ₹657.77 crore in FY24 to ₹824.96 crore in FY25, underscoring its expanding market presence, livemint.com reported.
Investors will monitor Orient Cables’ quarterly revenue growth, profitability, order execution, and operating cash flow in the coming months to assess the company’s performance post-IPO. The stock’s initial volatility highlights the market’s focus on these fundamental metrics, according to livemint.com.