The acquisition worth was 4.4% greater from the Monday closing worth of Rs 1,825.55 on the BSE. Right this moment the inventory surged 5% and ended at Rs 1,917.50.
Eimco Elecon (India) is in enterprise of producing and advertising and marketing gear 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 big correction within the inventory, indicating a dip shopping for. The share worth has eroded 34% up to now one yr and is at the moment 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 the moment buying and selling under their 50-day and 200-day easy shifting averages (SMAs) of Rs 2,148 and Rs 2,003, respectively, in response to Trendlyne knowledge.The inventory has been fairly risky, recording a 1-year beta of 1.4, the Trendlyne knowledge revealed.The corporate reported a internet 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.
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