Elecon Engineering

Elecon's revenue could likely grow by 20-24% CAGR over the next 3 years, driven by robust domestic demand and export opportunities arising for the company amid ongoing geopolitical events.

With strong order book in hand across segments, the management is optimistic of sustaining growth momentum going forward

The company said growth outlook for gears and MHE segments remains positive on the back of strong demand from end user industries.

Since April 9, the market price of EECL has more-than-doubled or is up 117 per cent. The stock surpassed its previous high of Rs 343, touched on December 20, 2007

Shares of Elecon Engineering Company hit an over 14-year high of Rs 298.80 in the intra-day trade on Thursday

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

As of 1:44 PM, the trading volumes on the counter more-than-doubled as 6.05 million equity shares representing 5.4 per cent of the company's total equity changed hands on the NSE and BSE.

According to the technical analyst from Anand Rathi, Elecon has confirmed a range breakout while HPCL seems to be testing support at its long-term trend line.

The order worth Rs 225 crore is for supply of marine gearboxes