CapitalMarket.com - Elecon Engineering gains on new order win
Hot Pursuit Friday, June 08, 2012 14:07 Hrs IST

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Elecon Engineering gains on new order win

Elecon Engineering Company rose 1.02% to Rs 54.50 at 14:05 IST on BSE after the company said it has been awarded letter of intent for a project worth Rs 16.30 crore from Indian Farmers Fertiliser Cooperative Paradeep unit in Odisha.

The company made this announcement after market hours on Thursday, 7 June 2012.

Meanwhile, the BSE Sensex was down 148.66 points or 0.89% to 16,500.39.

On BSE, 27,846 shares were traded in the counter as against average daily volume of 25,708 shares in the past one quarter.

The stock hit a high of Rs 55.70 and a low of Rs 54.05 so far during the day. The stock had hit a 52-week high of Rs 86 on 27 July 2011. The stock had hit a 52-week low of Rs 50 on 19 December 2011.

The stock had underperformed the market over the past one month till 7 June 2012, falling 2.35% compared with the Sensex's 1.56% fall. The scrip had also underperformed the market in past one quarter, declining 9.4% as against Sensex's 2.9% decline.

The small-cap company has an equity capital of Rs 18.57 crore. Face value per share is Rs 2.

Elecon Engineering Company's net profit rose 1.4% to Rs 23.89 crore on 26.3% growth in net sales to Rs 439.05 crore in Q4 March 2012 over Q4 March 2011.

Elecon Engineering Company manufactures sophisticated equipment for bulk material handling. The company is also into the design, manufacture, erection and commissioning of coal handling plants.

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