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Elecon Engineering Gains 6%; BSE CAPITAL GOODS Index Up 0.5%
Mon, 23 Sep 10:34

Elecon Engineering Gains 6%; BSE CAPITAL GOODS Index Up 0.5%Image source: peterschreiber.media/www.istockphoto.com

Elecon Engineering share price has zoomed 6% and is presently trading at Rs 669.2.

Meanwhile, the BSE CAPITAL GOODS index is at 73,729.7 (up 0.5%).

Among the top gainers in the BSE CAPITAL GOODS index today are Finolex Cables (up 3.5%) and ABB (up 2.5%).

GRINDWELL NORTON (down 1.0%) and TIMKEN INDIA (down 0.8%) are among the top losers today.

Over the last one year, Elecon Engineering has moved up from Rs 365.3 to Rs 669.2, registering a gain of Rs 303.9 (up 83.2%).

On the other hand, the BSE CAPITAL GOODS index has moved up from 46,903.1 to 73,729.7, registering a gain of 57.2% during the last 12 months.

The top gainers among the BSE CAPITAL GOODS index stocks during this same period were HINDUSTAN AERO. (up 122.0%), BHEL (up 119.7%) and Bharat Electronics (up 107.2%).

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What About the Benchmark Indices?

The BSE Sensex is at 84,754.9 (up 0.2%).

The top gainers among the BSE Sensex today are M&M (up 1.7%) and SBI (up 1.6%). The most traded stocks in the BSE Sensex are Tata Steel and NTPC.

In the meantime, NSE Nifty is at 25,891.9 (up 0.4%). ONGC and BPCL are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,800.8 to 84,754.9, registering a gain of 17,954.1 points (up 26.9%).

Elecon Engineering Financial Update...

Elecon Engineering net profit fell 1.6% YoY to Rs 709 million for the quarter ended June 2024, compared to a profit of Rs 721 million a year ago. Net sales declined 5.3% to Rs 3,924 million during the period as against Rs 4,143 million in April-June 2023.

For the year ended March 2024, Elecon Engineering reported 49.7% increase in net profit to Rs 3,556 million compared to net profit of Rs 2,375 million during FY23. Revenue of the company grew 26.7% to Rs 19,374 million during FY24.

The current Price to earnings ratio of Elecon Engineering, based on rolling 12 month earnings, stands at 43.1.


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