Vijay Kedia sold 6,75,001 shares while FIIs bought 61,36,929 shares of this multibagger small-cap company with Rs 1,438 crore order book; Board likely to announce stock split!
The stock delivered multibagger returns, with eye-popping gains of 120 just in 1 year, 425 per cent in 2 years, and a staggering 1,450 per cent in 3 years.
Elecon Engineering Company Ltd informed that a meeting of the Board of Directors is scheduled to be held on Friday, April 19, 2024, to consider and approve the Audited Financial Results (Both Standalone & Consolidated) for the quarter & financial year that ended on March 31, 2024 and alteration in the share capital of the company by sub-division/ stock split of existing equity shares having face value of Rs 2 each, fully paid up, as may be determined by the Board of Directors.
As of March 2024, Vijay Kedia sold 6,75,001 shares and decreased his stake to 1.34 per cent while FIIs bought 61,36,929 shares and increased their stake to 7.58 per cent compared to March 2023. The company has a market cap of over Rs 11,000 crore and the company’s order book stands at Rs 1,438 crore as of December 31, 2023.
Elecon Engineering Company Ltd., established in 1960, is a manufacturer of industrial equipment with a global presence, specializing in power transmission and material handling equipment. They design, manufacture and sell this equipment across India and internationally. Additionally, Elecon operates a steel and non-ferrous foundry business, giving them a well-rounded approach to industrial equipment production. Notably, they were the first to introduce modular design concepts, case-hardened, and ground gear technology in India, showcasing their commitment to innovation in the power transmission sector.
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On Monday, shares of Elecon Engineering Company Ltd surged 1.61 per cent to Rs 987.25 per share with an intraday high of Rs 1,020 and an intraday low of Rs 904.05. The stock’s 52-week high is Rs 1,120.50 and its 52-week low is Rs 407.55. The stock delivered multibagger returns, with eye-popping gains of 120 just in 1 year, 425 per cent in 2 years, and a staggering 1,450 per cent in 3 years. Investors should keep a close eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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