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Elecon Engineering Plunges 7%; BSE CAPITAL GOODS Index Down 0.1%
Mon, 8 Jul 12:24

Elecon Engineering Plunges 7%; BSE CAPITAL GOODS Index Down 0.1%Image source: Nikada/www.istockphoto.com

Elecon Engineering share price has plunged 7% and is presently trading at Rs 1,279.4.

Meanwhile, the BSE CAPITAL GOODS index is at 75,062.0 (down 0.1%).

Among the top losers in the BSE CAPITAL GOODS index today are SCHAEFFLER INDIA (down 2.9%) and Finolex Cables (down 2.4%).

Carborundum Universal (up 5.1%) and BHEL (up 2.7%) are among the top gainers today.

Over the last one year, Elecon Engineering has moved up from Rs 615.1 to Rs 1,279.4, registering a gain of Rs 664.4 (up 108.0%).

On the other hand, the BSE CAPITAL GOODS index has moved up from 40,532.4 to 75,062.0, registering a gain of 85.2% during the last 12 months.

The top gainers among the BSE CAPITAL GOODS index stocks during this same period were BHEL (up 273.7%), HINDUSTAN AERO. (up 200.0%) and Bharat Electronics (up 169.8%).

Dear Reader: If You Invest in Midcap Stocks, this is for You

What About the Benchmark Indices?

The BSE Sensex is at 79,794.6 (down 0.3%).

The top losers among the BSE Sensex today are Titan (down 3.8%) and MUNDRA PORT & SEZ (down 1.9%). The most traded stocks in the BSE Sensex are Tata Steel and ITC.

In the meantime, NSE Nifty is at 24,269.2 (down 0.2%). Titan and Divis Laboratories are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,479.1 to 79,794.6, registering a gain of 14,315.6 points (up 21.9%).

Elecon Engineering Financial Update...

Elecon Engineering net profit grew 52.6% YoY to Rs 1,012 million for the quarter ended March 2024, compared to a profit of Rs 663 million a year ago. Net sales rose 33.0% to Rs 5,646 million during the period as against Rs 4,245 million in January-March 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 41.1.


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