Elecon Engineering Jumps Over 4% On Bagging Rs 130 Crore Orders

Elecon Engineering Company on Monday jumped 4.7% on the bourses as the company received order worth Rs 130 crore in its material handling business.

The company in a filing to the Exchanges said that for installing urea bagging and conveying systems at their complex at Ramagundam, Telangana, it has bagged an order worth Rs 130 crore form Ramagundam Fertilisers and Chemicals.

The company also recently received orders in cement, power, port and coal sectors, worth Rs 45 crore.

The stock on the NSE has delivered negative returns of 2.5%, underperforming the BSE Small-cap and the BSE Capital Goods indices over the same time span.

Elecon Engineering Company Limited is engaged in the manufacture of material handling equipment, industrial geared motors and reducers, mining equipment and casting processes. The company's segments include Material Handling Equipment, Transmission Equipment and Others.

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About Suhani Varma

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