The Anand-based Elecon Engineering Company Ltd, a leading material handling equipment, industrial gears and transmission products manufacturer, has won an order of Rs120 crore from Mundra Port and Special Economic Zone Ltd (MPSEZL) of the Adani Group.

 

The scope of order includes design, supply, erection, testing and commissioning of material handling system. The company had earlier won a Rs 587 crore order from the Adanis in August 2008. Established in 1951, Elecon supplies equipment in core sectors such as fertiliser, cement, coal, power generation, chemical, steel plant and port mechanisation across the country.

 

At CMP of Rs 36, the stock trades at a TTM PE of 4.9x its trailing earnings. It also enjoys a healthy dividend yield of more than 4%. The strong order order book coupled with attractive valuations & good return ratios offer a decent investment case for the investors. crackcrack
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Elecon Engg. Share Price

59.30 1.60 (2.77%) Mar 08, 18:37
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