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Elecon Engineering Plunges 8%; BSE CAPITAL GOODS Index Down 2.5%
Thu, 18 Jul 9:48

Elecon Engineering Plunges 8%; BSE CAPITAL GOODS Index Down 2.5%Image source: StarLineArts/www.istockphoto.com

Elecon Engineering share price has plunged 8% and is presently trading at Rs 1,198.0.

Meanwhile, the BSE CAPITAL GOODS index is at 72,585.6 (down 2.5%).

Among the top losers in the BSE CAPITAL GOODS index today are HINDUSTAN AERO. (down 6.4%) and Bharat Electronics (down 4.1%).

SCHAEFFLER INDIA (up 2.3%) and TIMKEN INDIA (up 0.7%) are among the top gainers today.

Over the last one year, Elecon Engineering has moved up from Rs 727.9 to Rs 1,198.0, registering a gain of Rs 470.1 (up 64.6%).

On the other hand, the BSE CAPITAL GOODS index has moved up from 41,426.7 to 72,585.6, registering a gain of 75.2% during the last 12 months.

The top gainers among the BSE CAPITAL GOODS index stocks during this same period were BHEL (up 231.5%), HINDUSTAN AERO. (up 161.3%) and Bharat Electronics (up 146.2%).

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What About the Benchmark Indices?

The BSE Sensex is at 80,438.1 (down 0.3%).

The top losers among the BSE Sensex today are Asian Paints (down 1.9%) and MUNDRA PORT & SEZ (down 1.6%). The most traded stocks in the BSE Sensex are Tata Steel and NTPC.

In the meantime, NSE Nifty is at 24,580.9 (down 0.1%). Bajaj Auto and Asian Paints are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,589.9 to 80,438.1, registering a gain of 13,848.2 points (up 20.8%).

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 38.6.


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