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The board of Orient Electric on Wednesday provided in-principle approval to consider setting up a new manufacturing facility for various products of the company in South India, scouting an appropriate location, and firming up a project plan.
On the recommendations of the Nomination and Remuneration Committee, the board also granted 19,98,309 stock options to eligible employees including the MD & CEO under Orient Electric Employee Stock Option Scheme 2019. The stock of Orient Electric closed 0.66 per cent lower at ₹143.05 on the BSE.
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