Eimco Elecon (India) up most in over 1-1/2 yrs on Q4 profit jump

Eimco Elecon (India)

24/04/2023 10:04

** Shares of Eimco Elecon (India) Ltd  EIMC.NS  rise as much
as 20% to 466.4 rupees, biggest intraday pct. gain since July
2021
    ** Mining equipment manufacturer's March-qtr consolidated
net profit after tax more than doubles y/y to 98.1 mln rupees
($1.20 million) helped by a fall in input costs
    ** EIMC's consol. rev from ops also doubles to 642.4 mln
rupees
    ** Stock trading above 50-, 100-, and 200-day moving
averages
    ** Trading volume at ~73,000 shares, 16.8x the 30-day avg of
as of 2:20 p.m. IST 
    ** Stock up ~18% so far this year



($1 = 81.9700 Indian rupees)

 (Reporting by Biplob Kumar Das in Bengaluru)
 ((Biplobkumar.das@thomsonreuters.com))