The stock of industrial equipments company traded at its highest level since February 2008. The stock surged 35 per cent in four trading days. In the past three months, the stock zoomed 85 per cent, as compared to 2.6 per cent rise in the S&P BSE Sensex. Earlier, it had hit a record high of Rs 343 on December 20, 2007.
Elecon Engineering has two business segments – transmission equipment and material handling equipment. The transmission equipment segment engaged in manufacturing of transmission equipment like gearboxes, couplings and elevator traction machines. The material handling segment is engaged in manufacturing of material handling equipment like raw material handling systems, stackers, reclaimers, bagging or weighing machines, wagon or truck loaders, crushers, wagon tipplers, feeders and port equipment. It is also engaged in executing projects on these material handling equipment and systems.
On May 13, 202, rating agency Brickwork Ratings upgraded the ratings for the Bank Loan Facilities of Elecon Engineering Company.
Highlighting the rationale behind the upgrade, the rating agency said, "The upgrade takes into account the company’s improvement in the profitability margins, substantial reduction in debt over the past three years, significant reduction in contingent liabilities, comfortable and improving capital structure, healthy cash flow generation, sustained and significant reduction in the Material Handling Equipment (MHE) division debtors, and adequate liquidity in the form of unencumbered cash and bank balances, along with unused bank lines." CLICK HERE FOR MORE
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →
Quarterly Starter
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Over 30 behind the paywall stories daily, handpicked by our editors for subscribers


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app