Eimco Elecon (India) Limited Share: A Remarkable Year of 300% Growth
Eimco Elecon Share Price: Investors often hunt for the golden goose in the stock market, and for the shareholders of Eimco Elecon (India) Limited, the past year has certainly felt like they found one. With a staggering 300% return within a year, this company has not only rewarded its investors but also showcased its potential to those yet to join the party.
Let’s delve deeper into the impressive performance of Eimco Elecon share:
- Stratospheric Growth: Eimco Elecon’s share price catapulted from a modest 362.55 rupees on 31 October 2022 to an impressive 1451.95 rupees by 31 October 2023. This phenomenal surge represents a growth of over 300% in just one year.
- Quadrupled Investments: Consider this – an investment of 1 lakh rupees in Eimco Elecon’s shares a year ago would now balloon to 4 lakh rupees, an enticing proposition for any investor.
- Profit Boom: The financial prowess of the company is evident from its recent quarterly report. The net profit for the second quarter of the financial year 2024 surged by 77.98% to reach 10.79 crore rupees, up from 6.06 crore rupees in the same quarter the previous year.
- Sales Uptick: The company also witnessed a robust increase in net sales, registering a 38.55% growth, with sales touching 51.12 crore rupees in the recent quarter, a substantial jump from 36.89 crore rupees in the same period last year.
- New Ventures and Orders: Adding to the good news, Eimco Elecon recently secured a hefty order of 14.65 crore rupees from JMS Mining Private Limited. This order pertains to the supply of vital coal mining equipment.
- Diverse Product Range: Eimco Elecon’s specialization lies in the manufacturing of an expansive range of mining machinery. This includes air-powered rock drills, electro-hydraulic side-dump loaders, and both electro-hydraulic and air-powered load-haul dumpers. Predominantly, these machines find their utility in coal mines, aiding in loading tasks.
- Strategic Location: Eimco Elecon’s production plant is strategically situated in Vallabh Vidyanagar, Gujarat, an ideal location that serves its business purposes.
- Current Market Performance: As of the latest trading data, the company’s shares were priced at 1490 rupees at opening. They witnessed a day’s high and low of 1541.15 rupees and 1440 rupees, respectively. Presently, the stock is trading at 1455.15 rupees, marking a slight decrease by 1.23%.
- Yearly Performance: Over the past 52 weeks, the company’s stock reached its zenith at 1,676.60 rupees and saw a low of 333.10 rupees.
The success of Eimco Elecon (India) Limited over the past year has been nothing short of extraordinary. The blend of its operational efficiency, strategic business moves, and quality product offerings positions it as a noteworthy player in the stock market. If you haven’t already, it might be time to consider if this is the stock you want in your portfolio.
