Oriental Carbon block deal: BofA buys stake in this Rs 300 crore m-cap counter. Stock surges 20%

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Bank of America acquired 53,428 shares of Oriental Carbon & Chemicals at Rs 289.53 each in a Rs 1.5 crore block deal. The stock surged 20% to Rs 302.14, outperforming Nifty with a 31% year-to-date rally despite a 55% one-year decline. Oriental Carbon produces insoluble sulphur and reported a Q4 net profit of Rs 90 lakh, down from Rs 14 crore year-on-year, with revenue falling sharply to Rs 29 crore. The stock trades above its 50- and 200-day SMAs and shows low volatility with a beta of 0.9. Market cap stands at Rs 302 crore.