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Elecon Engineering hits over 14-year high; stock zooms 83% in 3 months

An order inflow guidance of around Rs 1,000 crore for FY2023 provides revenue visibility over the near term, analysts said

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SI Reporter Mumbai
Shares of Elecon Engineering Company (EECL) hit an over 14-year high of Rs 274.90 as they rallied 6 per cent on the BSE in Wednesday's intra-day trade. The stock of the industrial equipments company was trading at its highest level since January 2008 on the back of heavy volumes.

At 01:24 PM, the stock was 3 per cent higher at Rs 266.70 as compared to 1.4 per cent decline in the S&P BSE Sensex. The trading volumes on the counter more-than-doubled as 3.02 million equity shares, representing 2.5 per cent of the company's total equity, changed hands on the