300 per cent returns and 52-week high alert: This multibagger capital goods company bags new orders and report impressive quarterly results

Shares of the company have gained about 300 per cent in the last six months.

Shares of Eimco Elecon (India) Limited gained over 6 per cent in today’s trade. The surge in the stock was driven by the company’s stellar Quarterly Results in Q2FY24. The stock also made a fresh 52-week high today. The revenue of the company stood at Rs 51.12 crore which grew by 38.55 per cent YoY. The operating profit of the company stood at Rs 16.03 crore which grew by 63.13 per cent on a YoY basis, while the PAT of the company stood at Rs 10.79 crore, which increased by 77.98 per cent on a YoY basis.

Eimco Elecon produces a wide range of mining machinery, such as air-powered rocker shovels, electro-hydraulic side-dump loaders, and electro-hydraulic and air-powered load-haul dumpers, used as loading machines in coal mines. Its facilities are in Vallabh Vidyanagar, Gujarat.

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The company has recently bagged two new orders worth Rs 99.38 crores. The first order for the supply of coal mining machines from Inderdeep Construction Company was worth Rs 60.87 crore. The second order is also for the supply of a coal mining machine worth Rs 38.96 crore from JMS Mining Private Limited.

The shares of the company have gained about 300 per cent in the last six months and investors should keep a close eye on this stock.

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