Shares of Eimco Elecon (India) Ltd hit a 20% higher circuit on 8 October after Kedia Securities and Niveza Smallcap Fund bought a stake within the firm on the open market.
In accordance with NSE bulk deal information, Kedia Securities bought 57,441 shares at Rs 1,906.71 per share, whereas Niveza Smallcap Fund bought 30,000 shares at Rs 1,792.58 per share of the corporate.
Dr Vijay Kedia’s funding arm known as Kedia Securities. The agency’s major actions embody investing in each the ‘listed’ and ‘unlisted’ areas. ‘Listed area’ refers to investing in corporations which can be listed on Indian inventory exchanges, while ‘unlisted’ refers to investing in startups. Other than that, the agency invests in actual property.
Eimco Elecon manufactures and markets tools for underground and opencast mining. Eimco Elecon (India) Restricted was the primary in India to make use of intermediate expertise, comparable to Facet Dump Loaders (SDLs), Load Haul Dumpers (LHDs), and Rocker Shovel Loaders, to partially mechanise underground coal and metalliferous mines.
In accordance with the corporate’s official web site, it has developed over 3,800 machines, that are at the moment operational in numerous mining and development websites in India and worldwide. The corporate additionally gives gross sales and after-sales help by way of a community of department places of work and components depots across the nation, together with Asansol, Bilaspur, Dhanbad, Kolkata, Nagpur, Secunderabad, Bangalore, Chennai, Jamshedpur, Mumbai, and New Delhi.
At 2:20 pm, the shares of Eimco Elecon had been locked 20% greater at Rs 2,301 on NSE.
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