Orient Cables: IPO listed at 65% premium, but share price crashed the very next day - What's behind the lower circuit?
AI Summary
The sharp decline in Orient Cables' stock price following a strong debut highlights the volatility often seen in newly listed companies, particularly in sectors like telecom and renewable energy. Retail investors should be cautious, as profit booking can lead to significant price fluctuations in the short term, and they should focus on the company's upcoming quarterly performance to gauge its long-term potential. This situation serves as a reminder of the importance of analyzing fundamentals over short-term market movements, especially in a high-growth sector.
Just a day after listing at a solid premium of 65%, Orient Cables share price crashed as much as 10% in morning deals on Tuesday, 6 October, largely due to profit booking. Shares of Orient Cables (India) opened at ₹380 against their previous close of ₹403.30 and dropped 10% to a fresh all-time low and their lower circuit level of ₹363. However, even at this price, the stock is up 33% from its issue price of ₹272.
On Monday, 5 October, the stock listed at a 65% premium at ₹448 on the BSE.
Original Article
Published on Livemint
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This is a market news update from Livemint, published on 06 October 2026.
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