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Eimco Elecon (India) Ltd secures INR 38.96 Cr, stock rises 6.5%

Oct 13, 2023

By: BlinkX Research Team

Eimco Elecon (India) Ltd, a prominent manufacturer and supplier of Mining and Construction Equipment, witnessed a surge of up to 6.5% in its stock, reaching a record high of Rs 1,325.05 per share. The boost came after the company received an order for the supply of coal mining equipment.

As of 1:05 p.m., Eimco Elecon (India) Ltd shares were trading at Rs 1,323.70 per share, marking a 6.23% increase from the previous close on the National Stock Exchange. The company, with a market capitalization of Rs 758 crore, recently secured a substantial order worth INR 38.96 crores from JMS Mining Private Limited. The delivery of the equipment is slated for on or before January 27, 2026.

In the last fiscal year, Eimco Elecon reported a Net profit margin of 11.25% and an operating margin of 14.80%. According to the latest shareholding pattern, promoters hold 74.06% of the company, while retail investors account for a 25.94% stake. Eimco Elecon (India) Limited primarily deals in the manufacturing and marketing of equipment for underground and opencast mines.