The company announced the fresh orders after market hours on Wednesday, 7 April 2010.

Meanwhile, the BSE Sensex was down 81.74 points, or 0.45% to 17,888.28.

On BSE, 2.98 lakh shares were traded in the counter as against an average daily volume of 2.23 lakh shares in the past one quarter.

The stock hit a high of Rs 82.70 and a low of Rs 79.10 so far during the day. The stock had hit a 52-week high of Rs 110.85 on 21 October 2009 and a 52-week low of Rs 35.20 on 8 April 2009.

The small-cap stock had underperformed the market over the past one month till 7 April 2010, falling 1.01% as compared to the Sensex's 5.74% rise. It had also underperformed the market in the past one quarter, declining 12.84% as compared to the Sensex's return of 2.01%.

The company's equity capital is Rs 18.57 crore. Face value per share is Rs 2.

The current price of Rs 81.25 discounts the company's Q3 December 2009 annualized EPS of Rs 8.54, by a PE multiple of 9.51.

One of the two orders worth Rs 47.80 crore is from Jindal Steel & Power for supply of equipments. The other order valued at Rs 40.55 crore is from Larsen & Toubro (L&T) for supply of divel planetory gearboxes.

Elecon Engineering Company's net profit surged 58.5% to Rs 19.83 crore on 1.7% rise in net sales to Rs 249.88 crore in Q3 December 2009 over Q3 December 2008.

Elecon Engineering Company manufactures all kinds of mechanical handling equipment such as bucket elevators, belt conveyors, gravity roller conveyors, bag-filling machines, bag stacking machines, overhead chair conveyors.