India's Elecon Engineering hits record high on Q3 profit jump

Elecon Engineering

25/01/2024 08:45

** Shares of Elecon Engineering  ELCN.NS  rise as much as
5.7% to a record high of 1,120 rupees
    ** Industrial equipment maker said on Thursday its Q3 net
PAT rose more than 44% to 904 mln rupees ($11 mln), rev from ops
up ~22% Y/Y
    ** Over 872,000 shares change hands, 2x 30-day avg
    ** ELCN trading above its 200-day simple moving average
since March
    ** Stock rose ~20% in Q3, its seventh consecutive quarterly
gain



($1 = 83.1250 Indian rupees)

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))