Elgi Equipments soars 34% in 4 days on strong earnings hope

In the past three months, the stock price of the company has zoomed 110 per cent as compared to 1 per cent decline in the S&P BSE Sensex

Shares of Elgi Equipments hit a new high of Rs 419.35 after they surged 10 per cent on the BSE in Thursday's intra-day trade on expectation of strong earnings. The stock has soared 34 per cent in the past four trading days.

At 01:38 pm, the stock was trading 7 per cent higher at Rs 409 on the back of heavy volumes. A combined 5.53 million equity shares, representing 1.74 per cent of total equity of Elgi Equipments, had changed hands on the NSE and BSE till the time of writing of this report, data shows. In comparison, the