'Buy' Orient Electric Shares Maintains Nirmal Bang, Sees 32% Upside — Check Target Price

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Nirmal Bang Report

Nirmal Bang remains optimistic on Orient Electric Ltd., citing steady progress under its direct-to-market distribution strategy, improving growth visibility across regions, and continued momentum in the lighting segment driven by an expanding SKU portfolio and rising B2B contribution.

The brokerage highlights that margin recovery visibility is improving and execution is tracking well, reinforcing confidence in the company’s growth trajectory.

Orient Electric’s premium positioning and strategic initiatives are expected to support sustainable performance.

Nirmal Bang values the stock at 30x Sep-27E EPS, arriving at a target price of Rs 241, which represents a ~50% discount to its five-year historical average one-year forward P/E.

The rating remains Buy, underpinned by strong fundamentals and favorable risk–reward dynamics.

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