Orient Abrasives hit the 20 per cent upper circuit and closed at Rs 39.45. The board of directors is scheduled to meet on June 24 to approve the 2009 annual results. Dividend payout and bonus shares can be considered at the board meet.
The stock opened at Rs 34.9, and slipped to an intraday low of Rs 33.75 before hitting the day’s high. A total of 400,000 shares changed hands on 74 per cent delivery volumes.