Vijay Kedia holding; 1000₹ multi-bagger share, from Rs 1 lakh to Rs 26 lakh, after Q3 results, it started flying like a rocket.

Elecon Engineering Company Ltd (NSE: ELECON): If you are on the lookout for a potential multi-bagger stock, consider turning your attention towards Elecon Engineering Company. This stalwart has delivered remarkable returns to investors over a brief span.

As of January 25, the stock witnessed a slight dip of 2.16%, closing at Rs 1036. Intriguingly, it marked its 52-week high at Rs 1,119.55 during the intraday session, while the 52-week low stood at Rs 349.90. The market capitalization of the company currently stands at Rs 11,623.92 crore.

The sales for the quarter ending December 2023 increased by 25.99% from Rs. 3,042.20 million to Rs. 3,833.00 million.

The profit after tax for the quarter ending December 2023 exhibited substantial growth, surging by 58.25% to Rs. 763.10 million from Rs. 482.20 million.

NSE: Elecon Engineering’s share has increased by +96.00 in the last 1 month,+654.70

The top Brokerage company has a set Elecon Engineering share price target at 1199Rs for a few future months.

Elecon Engineering Company Ltd (NSE: ELECON)

Elecon Engineering’s quarterly results were strong

Elecon Engineering has reported robust quarterly results for Q3FY24. The company’s revenue surged by 21.79%, reaching Rs 473.56 crore on an annual basis. Operating profit witnessed a substantial increase of 41.64% to Rs 130.37 crore, while the Profit After Tax (PAT) soared by 43.05% to Rs 89.15 crore.

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Elecon Engineering gets a new order

Notably, Elecon Engineering secured a substantial order from the steel giant ArcelorMittal Nippon Steel India, amounting to Rs 82.78 crore. This domestic deal involves the manufacturing and supply of belt conveyor mechanical equipment and technological structures for the Hazira plant in Gujarat. The company’s recent successes have attracted increased investment from Foreign Institutional Investors (FIIs), with veteran investor Vijay Kedia holding a notable 1.47% stake in the company.

About Elecon Engineering

Elecon Engineering Company Limited, an Indian multinational enterprise, has its headquarters situated in Anand, Gujarat. The company, established in 1951, is dedicated to the production of industrial gear and material handling equipment. As of 2023, it employs a workforce of 652 individuals. Additionally, Elecon Engineering Company Limited has a subsidiary named David Brown Systems Sweden AB. The headquarters is located in Vallabh Vidyanagar, Anand.

Performance Highlights:

In the last month, Elecon Engineering’s shares witnessed a 10% increase.
Over the last 6 months, the stock provided a notable return of 37%.
The past year saw an extraordinary surge of 173.64% in the company’s shares.
Over the last 4 years, investors have enjoyed a staggering profit of 2520%.

From 1 Lakh to 26 Lakh Rupees:

Back in January 2020, a single share of Elecon Engineering was priced at Rs 39.65, which has now surged to Rs 1036. This signifies a remarkable 26-fold increase in investors’ wealth during this period. If one had invested Rs 1 lakh in Elecon Engineering stocks four years ago, their investment would have grown to a substantial Rs 26 lakh today.

Conclusion

This article serves as a comprehensive guide to the Elecon Engineering Rs 1000 multi-bagger share, from Rs 1 lakh to Rs 26 lakh. The information and forecasts are derived from our analysis, research, company fundamentals, historical data, experiences, and various technical analyses. The article delves into the share’s prospects and growth potential in detail. Feel free to comment below if you have any further queries. We are more than happy to address all your questions. If you find this information helpful, consider sharing the article with as many people as possible.

Disclaimer:

Dear readers, please be advised that we are not authorized by SEBI (Securities and Exchange Board of India). The information provided on this site is solely for informational and educational purposes and should not be construed as financial advice or stock recommendations. Additionally, share price predictions are intended for reference purposes only and are valid only under positive market conditions.

This study does not consider any uncertainties regarding the company’s future or the current market conditions. While this information is for informational purposes, we disclaim any responsibility for potential financial losses incurred based on the information provided on this site. We aim to offer timely updates about the stock market and financial products to assist you in making informed investment decisions. It is crucial to conduct your research before making any investment decisions.