Elecon Engineering Company rose 2.56% to Rs 46 at 15:30 IST on BSE, on news of a promoter firm acquiring shares from the open market.
The stock hit a high of Rs 46.50 and a low of Rs 43.05 so far during the day. The stock has a 52-week high of Rs 343 on 20 December 2007 and a 52-week low of Rs 36.25 on 27 October 2008.
The company's current equity is Rs 18.57 crore. Face value per share is Rs 2.
The current price of Rs 46 discounts the company's Q2 September 2008 annualized EPS of Rs 6.90, by a PE multiple of 6.67.
Prayas Engineering, promoter of the company, has acquired 19,000 shares or 0.02% of equity capital of the company through open market purchases, Elecon Engineering said in a filing to the Bombay Stock Exchange. The company made this announcement during trading hours today, 17 November 2008.
In October 2008, the company secured an order worth Rs 17.75 crore from Techpro Systems, Chennai.
Elecon Engineering Company's net profit fell 7% to Rs 16.02 crore on 37.3% increase in net sales to Rs 252.23 crore in Q2 September 2008 over Q2 September 2007.
Elecon Engineering Company manufactures all kinds of mechanical handling equipment such as bucket elevators, belt conveyors, gravity roller conveyors, bag-filling machines, bag stacking machines, overhead chair conveyors.
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