Elecon Engineering gains on bagging order worth Rs 25.50 crore

Elecon Engineering is currently trading at Rs. 53.45, up by 0.25 points or 0.47% from its previous closing of Rs. 53.20 on the BSE.

The scrip opened at Rs. 52.55 and has touched a high and low of Rs. 54.25 and Rs. 52.15 respectively. So far 14982 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. 54.50 and Rs. 52.15 respectively. The current market cap of the company is Rs. 494.02 crore.

The promoters holding in the company stood at 45.99% while Institutions and Non-Institutions held 15.10% and 38.91% respectively.

Elecon Engineering Company has bagged order worth Rs 25.50 crore from Tecpro System for engineering, manufacturing, supply, erection and commissioning of various equipments in CHP for 2x300MW Haldia TPP Project.

Recently, the company had been awarded letter of intent aggregating of total Rs 272.33 crore from National Thermal Power Corporation (NTPC), NTPC Bhawan, Scope Complex, 7, Institutional Area, Lodi Road, New Delhi.

The company posted a rise of 1.40% in its net profit at Rs 23.89 crore for the quarter ended March 31, 2012 as compared to Rs 23.56 crore for the same quarter in the previous year. Total income increased by 26.23% at Rs 441.97 crore for quarter under review as compared Rs 350.12 crore for the quarter ended March 31, 2011. Elecon Engineering Company (EECL) is a market leader in the domestic gears segment with around 25% market share in the domestic transmission equipment segment.