Multibagger in just 6 months: This micro-cap company bags new order worth Rs 60.87 crore from Inderdeep Construction Co!

The stock gave multibagger returns of 155 per cent in just 6 months whereas BSE Sensex Index is up by 10 per cent.

Eimco Elecon (India) Ltd informed that the company received an order worth Rs 60.87 crore from Inderdeep Construction Co. The order includes the supply of coal mining machine package on or before December 31, 2023.

On Thursday, one of the Top Gainers on BSE, shares of Eimco Elecon Ltd hit a 5 per cent upper circuit to Rs 935.65 per share from its previous closing of Rs 891.10. The stock’s 52-week high is Rs 977 and its 52-week low is Rs 333.10. The shares of the company saw heavy buying with a spurt in volume by more than 1.76 times on BSE.

Eimco Elecon (India) Limited, incorporated in 1974, is in the business of manufacturing and marketing equipment for underground and opencast mines. The company is situated at Vallabh Vidyanagar, Gujarat. It was the first company to introduce the intermediate technology of side dump loaders, load haul dumpers and rocker shovel loaders in India.

Talking about the financials, Eimco Elecon (India) Limited has a market cap of Rs 540 crore and has been maintaining a healthy dividend payout of 22.1 per cent. According to the Quarterly Results, the net sales increased by 31 per cent to Rs 43.78 crore and net profit skyrocketed by 500 per cent to Rs 5.36 crore in Q1FY24 compared to Q1FY23. The company also reported amazing numbers in its annual results.

The stock gave multibagger returns of 155 per cent in just 6 months whereas BSE Sensex Index is up by 10 per cent. Investors should keep an eye on this micro-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.