Eimco Elecon (I) Ltd – Stocks To Watch
2010 August 19
Eimco Elecon (I) Ltd
BSE Code : 523708
The company is promoted by Elecon engineering that holds 48.81 per cent stake whereas its foreign partner Eimco holds 25.1 per cent. The company has very tiny equity of Rs. 5.76 crore and its reserve is mind-boggling of Rs. 123.42 crore i.e. 25 times its equity indicates that it has to offer the liberal bonus share in ratio of 2:1 declared by Elecon Engineers earlier. The company has posted the net profit of Rs. 12.80 crore on sales of Rs. 162 crore achieving the EPS of Rs. 22.18 and the company has declared the dividend of 40 per cent. It is strange that the stock is available at Rs. 258 although it had hit the highest level of Rs. 700 during 2007-08 boom time.
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