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The stock of Orient Paper & Industries hit the upper circuit intra-day (Rs 518.75) on the BSE over market talk of a turnaround in the company's fortunes.

A diversified company — cement, paper and fans — it has been in the news in the past for its large debt burden.

The company, whose 50 per cent turnover is from cement, reported a profit of Rs 25 crore in the first quarter. It is expected to write off its debt through profits. Analysts maintain that with all its divisions doing well, the company is likely to report a profit of Rs 100 crore for the full year.

The stock pared its gain at close, ending the day 6.52 per cent higher at Rs 502.35 on the BSE. The counter has gained almost 15 per cent over the past week.

Deeptha Rajkumar

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