Elecon Engineering wins order worth Rs 22 crore; stock up 5%
Elecon Engineering Company Ltd, India's largest Material Handling Equipments, Industrial Gears and Transmission Products manufacturer has been awarded prestigious orders worth Rs 22 crore from Adani Power Ltd of Adani Group.
The scope of the order includes design, supply, erection, testing and commissioning of material handling systems at Mundra.
It may be noted that, In Decemeber 2008, Elecon Engineering bagged a similar order Rs 120 crore from Mundra port and Special Economic Zone of Adani Group.
Elecon Engineering, located at Vallabh Vidyanagar in Gujarat, has established a presence in core sectors such as fertilisers, cement, coal/power generation, chemical, steel plant and port mechanisation.
The scrip of the company closed the day at Rs 40, up 5% compared to previous close of Rs 38.