2500 per cent returns and FIIs & DIIs increase stake: Vijay Kedia gains Rs 13,08,60,000 in this multibagger stock in just one day!

Shares of the company gained more than 60 per cent in the last six months.

Shares of Elecon Engineering Company Limited gained over 8 per cent on Friday. The stock witnessed heavy buying activity from investors on Friday. Ace investor Vijay Kedia has a 1.60 per cent stake in the company.

The company has also posted strong Quarterly Results in Q2FY24. The revenue of the company stood at Rs 484.90 crore which grew by 24.78 per cent YoY. The operating profit of the company stood at Rs 131.29 crore which grew by 35.52 per cent on a YoY basis, while the PAT of the company stood at Rs 86.78 crore, which increased by 36.68 per cent on a YoY basis.

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Ace investor Vijay Kedia made a killing on Friday, gaining over Rs 13.08 crore in profit on his 18,00,000 shares in Elecon, which soared by Rs 72.70 per share. FIIs and DIIs have increased their stake in the company to 4.88 and 2.92 per cent in September 2023 respectively.

Elecon Engineering Company Limited, incorporated in 1960, is involved in the design and manufacturing of Material Handling Equipment and Incraft carriers through the acquisition of Benzlers- Radicon Group belonging to the David Brown Gear Systems. The shares of the company have gained about 2,500 per cent in the last three years and investors should keep a close eye on this stock.

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