Orient Technologies shares zoom 15% after 1:10 bonus issue approval

Shares of Orient Technologies Ltd surged 15.01 per cent in Tuesday's session, hitting a high of Rs 380, after the company announced shareholder approval for a bonus issue.

The smallcap IT services company said that shareholders have cleared a 1:10 bonus issue of equity shares. The management noted that the voting outcome reflects strong investor participation and confidence in the firm's financial approach, operating performance, and presence in fast-growing technology segments.

According to the company filing, the bonus issue will be executed through the capitalisation of Rs 4.16 crore from the Securities Premium Account, in compliance with the Companies Act, 2013 and Sebi regulations.

The company further stated that the record date for determining eligible shareholders will be announced later. It has already received in-principle approvals from stock exchanges for the proposed bonus allotment.

Technically, the stock is trading above the 5-day, 10-, 20-, 30-, 100-, 150-day and 200-day simple moving averages (SMAs) but below the 50-day simple moving average (SMA). Its 14-day relative strength index (RSI) came at 46.71. A level below 30 is defined as oversold while a value above 70 is considered overbought.

The scrip has a standalone price-to-earnings (P/E) ratio of 31.26 against a price-to-book (P/B) value of 5.11. Earnings per share (EPS) stood at 12.08 with a return on equity (RoE) of 16.35. According to Trendlyne data, Orient Tech has a one-year beta of 1.2, indicating high volatility.

As of September 2025, promoters held a 73.24 per cent stake in the company.