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What is the story about?
Shares of Eimco Elecon Ltd., the manufacturer of mining loaders, side dump loaders and load haul dumpers, surged as much as 20% on Wednesday, October 8, marking its biggest single-day gain since April this year.
Data from the NSE on Wednesday, showed that Kedia Securities, the firm of market investor Vijay Kedia, bought 57,000 shares of the company, at ₹1,906 per share.
Based on the June quarter shareholding pattern, Kedia did not have any prior stake in the Eimco Elecon.
This is the fifth straight day of gains for the stock, during which, it has surged 33%.
Shares have also gained on strong volumes, with close to 19 lakh shares changing hands as of 2:45 PM, in comparison to its 20-day average of just over 1 lakh shares.
As a result of today's upmove, the stock has turned positive on a year-to-date basis. The stock had gained 27% last year and had quadrupled in 2023, gaining 305%.
Eimco was in focus last month, when its promoter entity Tamrock Great Britain Holdings planned on selling stake through an Offer For Sale.
The stock is locked in a 20% upper circuit at ₹2,301.
Data from the NSE on Wednesday, showed that Kedia Securities, the firm of market investor Vijay Kedia, bought 57,000 shares of the company, at ₹1,906 per share.
Based on the June quarter shareholding pattern, Kedia did not have any prior stake in the Eimco Elecon.
This is the fifth straight day of gains for the stock, during which, it has surged 33%.
Shares have also gained on strong volumes, with close to 19 lakh shares changing hands as of 2:45 PM, in comparison to its 20-day average of just over 1 lakh shares.
As a result of today's upmove, the stock has turned positive on a year-to-date basis. The stock had gained 27% last year and had quadrupled in 2023, gaining 305%.
Eimco was in focus last month, when its promoter entity Tamrock Great Britain Holdings planned on selling stake through an Offer For Sale.
The stock is locked in a 20% upper circuit at ₹2,301.
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