CapitalMarket.com - Elecon Engineering pares early losses on new order win
Hot Pursuit Friday, May 21, 2010 11:56 Hrs IST

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Elecon Engineering pares early losses on new order win

Elecon Engineering Company was down 1.21% to Rs 77.40 at 11:55 IST on BSE, off the session's low of Rs 73, after the company secured an order worth Rs 32.77 crore from Manikgarh Cement for supply of equipment.

At the day's low of Rs 73, the stock had plunged 6.83% before the company announced the new order win during trading hours.

Meanwhile, the BSE Sensex was down 203.59 points, or 1.23% to 16,316.09.

On BSE, 54,529 shares were traded in the counter as against an average daily volume of 1.72 lakh shares in the past one quarter.

The stock hit a high of Rs 77.90 and a low of Rs 73 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 60.05 on 8 July 2009.

The small-cap stock had outperformed the market over the past one month till 20 May 2010, falling 2% as compared to the Sensex's 5.39% decline. It had underperformed the market in the past one quarter, rising 0.84% as compared to the Sensex's return of 2.03%.

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

Elecon Engineering Company's net profit surged 59.4% to Rs 27.07 crore on 14.1% increase in net sales to Rs 329.09 crore in Q4 March 2010 over Q4 March 2009. The company declared its result on 10 May 2010.

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