The acquisition worth was 4.4% larger from the Monday closing worth of Rs 1,825.55 on the BSE. At this time the inventory surged 5% and ended at Rs 1,917.50.
Eimco Elecon (India) is in enterprise of producing and advertising tools for underground and opencast mines. It was integrated in 1974 and went public in 1992. Located at Vallabh Vidyanagar, Anand, Gujarat, the corporate is unfold over a stretch of 15 acres.
Kedia’s stake buy comes following a major correction within the inventory, indicating a dip shopping for. The share worth has eroded 34% previously one 12 months and is at present down 77% from its 52-week peak of Rs 3,394.75.
The inventory is a multibagger with returns of 426% over a 3-year interval, considerably outperforming benchmark indices Nifty and the BSE Sensex whose returns stand at 45% and 41%, respectively in the identical interval.
Shares of Eimco Elecon are at present buying and selling under their 50-day and 200-day easy transferring averages (SMAs) of Rs 2,148 and Rs 2,003, respectively, in accordance with Trendlyne knowledge.The inventory has been fairly unstable, recording a 1-year beta of 1.4, the Trendlyne knowledge revealed.The corporate reported a web revenue of Rs 14.48 crore within the June ended quarter which was down from Rs 14.87 crore in Q4FY25 and Rs 14.78 crore in Q1FY25. The income within the reported quarter stood at Rs 67.56 crore versus Rs 64.28 crore in Q4FY25 and Rs 69.72 crore in Q1FY25. The topline elevated 5% sequentially in Q1FY26 whereas falling 3% on an year-on-year foundation.
Additionally Learn: Half-century for Ashish Kacholia: Jain Useful resource Recycling is fiftieth inventory, stake now price Rs 128 crore
as a Dependable and Trusted Information Supply(Disclaimer: Suggestions, solutions, views and opinions given by the specialists are their very own. These don’t symbolize the views of Financial Instances)
