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Elecon Engineering Plunges 3%; BSE CAPITAL GOODS Index Up 0.4%
Tue, 23 Jul 9:37

Elecon Engineering Plunges 3%; BSE CAPITAL GOODS Index Up 0.4%Image source: DNY59/www.istockphoto.com

Elecon Engineering share price has plunged 3% and is presently trading at Rs 615.3.

Meanwhile, the BSE CAPITAL GOODS index is at 72,977.8 (up 0.4%).

Among the top losers in the BSE CAPITAL GOODS index today are BHEL (down 0.8%) and GMR Infra (down 0.8%).

ADANI GREEN ENERGY (up 2.8%) and GRINDWELL NORTON (up 2.2%) are among the top gainers today.

Over the last one year, Elecon Engineering has moved up from Rs 377.5 to Rs 615.3, registering a gain of Rs 237.8 (up 63.0%).

On the other hand, the BSE CAPITAL GOODS index has moved up from 41,819.7 to 72,977.8, registering a gain of 74.5% during the last 12 months.

The top gainers among the BSE CAPITAL GOODS index stocks during this same period were BHEL (up 218.4%), HINDUSTAN AERO. (up 158.9%) and Bharat Electronics (up 145.5%).

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What About the Benchmark Indices?

The BSE Sensex is at 80,579.1 (up 0.1%).

The top gainers among the BSE Sensex today are Ultratech Cement (up 1.5%) and M&M (up 1.2%). The most traded stocks in the BSE Sensex are Tata Steel and NTPC.

In the meantime, NSE Nifty is at 24,516.5 . Eicher Motor and Ultratech Cement are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 67,097.4 to 80,579.1, registering a gain of 13,481.7 points (up 20.1%).

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 39.7.


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