Elecon Engineering Company shines on getting nod to incorporate step down wholly owned subsidiary
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Elecon Engineering Company is currently trading at Rs. 699.70, up by 67.90 points or 10.75% from its previous closing of Rs. 631.80 on the BSE.
The scrip opened at Rs. 634.00 and has touched a high and low of Rs. 748.00 and Rs. 634.00 respectively. So far 178722 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs 748.00 on 11-Jul-2023 and a 52 week low of Rs. 287.55 on 11-Jul-2022.
Last one week high and low of the scrip stood at Rs. 748.00 and Rs. 618.15 respectively. The current market cap of the company is Rs. 7341.80 crore.
The promoters holding in the company stood at 59.29%, while Institutions and Non-Institutions held 4.83% and 35.88% respectively.
Elecon Engineering Company has received approval to incorporate the wholly owned subsidiary (WOS) of Elecon Middle East FZCO, Dubai, which is a WOS of the Company. The Board of Directors of the company at its meeting held on July 11, 2023, inter alia, approved the same.
Elecon Engineering Company is engaged in delivering power transmission solutions and material handling equipment.
