Elecon promoters hike stake
Promoters of Vallabh Vidyanagar-based Elecon Engineering, Prayas Engineering have hiked their stake in the company.
The promoters purchased around 44,500 equity shares of Rs2 each of Elecon Engineering from open market.
One of the first companies in the country to manufacture sophisticated equipment for bulk material handling, Elecon Engineering also produces power transmission solutions. The company’s product range includes designing, engineering, manufacturing, supply, fertiliser reclaiming scrapers, limestone pre-homegenizing and blending plants etc.
Its client list includes Reliance Energy, Indian Railways, and Neyveli Lignite. Elecon’s revenues come mostly from mining, cement and power generation sectors.