Elecon Engineering surges on new order win

Elecon Engineering Company was locked at 5% upper limit at Rs 37.15 at 10:53 IST on BSE, on bagging an order worth Rs 120 crore.
The company announced the order win after market hours on Friday, 12 December 2008.
The stock hit a high of Rs 37.15 and a low of Rs 36 so far during the day. The stock hit a 52-week high of Rs 343 on 20 December 2007 and a 52-week low of Rs 29.50 on 5 December 2008.
The company's current equity is Rs 18.57 crore. Face value per share is Rs 2.
The current price of Rs 37.15 discounts the company's Q2 September 2008 annualized EPS of Rs 6.90, by a PE multiple of 5.38.
Prayas Engineering, a promoter, had on 10 December 2008 acquired 44,500 shares or 0.05% of the equity capital of the company through open market. Since November 2008, Prayas Engineering so far acquired 8.26 lakh equity shares or 0.89% of equity capital of Elecon Engineering.
Elecon has bagged an order worth Rs 120 crore from Mundra Port and Special Economic Zone for design, supply, erection, testing and commissioning of material handling system.
Elecon Engineering had in October 2008 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.