Elecon Engineering rises on getting fundamental grade of 4/5 from CARE

21 Dec 2011

Elecon Engineering is currently trading at Rs 51.90, up by 0.25 points or 0.48% from its previous closing of Rs 51.65 on the BSE.

The scrip opened at Rs 52.25 and has touched a high and low of Rs 53.00 and Rs 51.55 respectively. So far 4940 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 86.00 on 27-Jul-2011 and a 52 week low of Rs 50.00 on 19-Dec-2011.

Last one week high and low of the scrip stood at Rs 57.15 and Rs 50.00 respectively. The current market cap of the company is Rs 479.63 crore.

The promoters holding in the company stood at 45.82% while Institutions and Non-Institutions held 15.41% and 38.78% respectively.

CARE Equity Research assigned fundamental grade of 4/5, indicating very good fundamentals for Elecon Engineering Company (EECL). The grade draws strength from the leadership position in the gears segment coupled with a healthy order book backed by the demand from the user industries.

EECL is a market leader in the domestic -gears segment with around 25% market share in the domestic transmission equipment segment. Being part of the Elecon group that largely focuses on the engineering sector adds to the operational strength to EECL in terms of sourcing some of the inputs like castings from the group company and outsourcing some portion of job-work to the group company.

Related Elecon Engineering Company Ltd. Links:

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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