• May 4, 2024
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Elecon Engineering shares gain nearly 2% on orders win worth Rs 51.4 crore

Elecon Engineering shares gain nearly 2% on orders win worth Rs 51.4 crore

A meeting of the board of directors of the company will be held on 0ctober 20, 2023 to consider financial results for the quarter and half year ended on September 30, 2023.

Elecon Engineering

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Elecon Engineering share price gained nearly 2 percent in the early trade on October 20 after the company received an order of Rs 51.41 crores (excluding GST) from ArcelorMittal Nippon Steel India Limited (AMNS), Hazira, Gujarat, India for supply and supervision of Pipe Conveyor System at its Hazira Plant, Gujarat.

At 09:25 hrs Elecon Engineering Company was quoting at Rs 802.70, up Rs 14.80, or 1.88 percent on the BSE.

The order includes design, engineering, manufacturing, supply, transportation to the site and supervision of the erection, testing and commissioning of 1 pipe conveyor.

The said order is to be completed in 24 months.

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A meeting of the board of directors of the company has been scheduled on 0ctober 20, 2023 to consider the unaudited financial results for the September quarter. The board will also consider interim dividends on equity shares, if any.

In the last nine months, the share price surged more than 100 percent.

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