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

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