BSE 500: These capital goods stocks were the top sectoral gainers on September 02

Two of these top-gaining capital goods stocks logged a fresh all-time high in today’s session.

A mixed day on D-Street closed with the frontline index the Sensex closing at 58,803 up by 0.1 per cent or 37 points, while the Nifty index closed flat at 17,539.45. In the broader market, capital goods stocks gained strength with S&P BSE Capital Goods up by 1.1 per cent or 368 points at 32,818.08. 

Elgi Equipments, V-Guard Industries and Timken India witnessed positive action in today’s session.  

Shares of Elgi Equipments Ltd zoomed 9.4 per cent in today’s session to touch a new 52-week high at Rs 537.75. This multibagger stock has surged 168 per cent in the last one year while it has surged 393 per cent in two years. The shares of Elgi Equipments have been witnessing positive momentum since the last few sessions hitting fresh all-time highs. The stock witnessed profit booking in yesterday’s session but regained momentum today logging intraday high and low of Rs 537.75 and Rs 496.55, respectively and closed at Rs 532.50 with a gain of 8.32 per cent.

Another capital goods stock that rallied was V-Guard Industries, gaining 7.23 per cent in today’s session and closing at Rs 245.60. Intraday high and low registered by the shares of V-Guard Industries were at Rs 248 and Rs 228.45, respectively. On September 1, the company informed that Guts Electro-Mech Ltd has become a wholly-owned subsidiary of the company by completing the acquisition of the balance 26 per cent equity investment. The subsidiary is engaged in the business of manufacturing and supply of MCB and RCCB. 

Timken India Ltd logged a fresh all-time high in today’s session at Rs 3249.89 after rallying 5.2 per cent over its previous close. Shares of Timken India witnessed positive momentum last week defying market volatility by 10.2 per cent. At the closing bell, the shares of Timken India were quoting Rs 3221 with a gain of 4.27 per cent.