Shares of Oriental Beverages rose 5% for the sixth straight session, touching a five-year high of Rs 179.05 on the BSE on Thursday. The stock has risen 54% during that time.

Moreover, the stock has gained 81% over the past month, compared with a 3.8% gain for the S&P BSE Sensex. It was trading at its highest level since July 2017.

Exchange data showed about 4,712 shares had changed hands over the counter, with 13,256 pending buy orders on the BSE. Currently, the stock is classified as ‘X’ on the BSE. Group X includes all stocks listed only on the BSE and settled through trades.

Orient Beverages is a pioneer in the packaged drinking water industry, engaged in the manufacture, trade and marketing of packaged drinking water and carbonated soft drinks under the trademark “BISLERI”. It has a franchise license from Bisleri International Private Limited (BIPL) for producing and distributing packaged drinking water and carbonated soft drinks. The company established its manufacturing plant in West Bengal. The company has further expanded its presence in Jharkhand.

Regarding material changes in the price of securities, Orient Beverages clarifies that there are no events or developments in the company that could cause material changes in the price of our securities and/or that we would be required to make the same disclosure.

“There are reports in electronic and print media that ‘Tata Group’ is acquiring or has acquired trading brand ‘Bisleri’ for some consideration. This may be one of the reasons for our share price volatility,” said Orient Beverages.

“However, as of now, we have no official communication from BIPL in this regard. Therefore, we cannot inform you of further details or the impact of the deal on our company,” the company said.