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.

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The 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.

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Oriental Carbon share price target and performance

According 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.

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Shares 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.

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