1:2 Split, 272% Rally: Engineering Co To Mull Dividend Rewards On Oct 18, Shares Slip 7.6%

Multibagger stock Elecon Engineering Co Ltd shares today slipped 7.64% amid weak market and 9.67% in last 1-week span. Last trading price of Elecon Engineering shares on BSE is Rs 624.45 per share. Elecon Engineering will consider financial results and interim dividend on October 18, 2024. FII-backed Elecon Engineering shares surged over 63% in last 1-year and rose over 272% in last 2-years. The company's market capitalisation stood at Rs 14,012.65 crore. Check details below:

Elecon Engineering To Consider Results, Dividend: As per the BSE filing of Elecon Engineering dated October 7, 2024, "a Meeting of the Board of Directors of the Company has been scheduled on Friday, 18th October, 2024 at Vallabh Vidyanagar, inter alia, to consider and approve:-

a. the Unaudited Financial Results (Both Standalone & Consolidated) for the quarter and half year ended on 30th September, 2024 alongwith related segment wise financial results; and

b. Declaration of Interim Dividend on Equity Shares, if any.

Elecon Engineering Sets Record Date For Interim Dividend: The BSE filing added, "Pursuant to the Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the record date for determining the entitlement of the shareholders for the interim dividend shall be Monday, 28th October, 202·1,if declared by the Board of Directors of the Company."

Elecon Engineering Shares Performance: The 52-week high price of Elecon Engineering Co Ltd shares on BSE is Rs 717.90 per share (as on 01/10/2024) and 52-week low price on BSE is Rs 357.00 per share (as on 26/10/2023), respectively. Elecon Engineering shares slipped 8% in last 3-months, gained 635% and 4221% in last 5-years.
Elecon Engineering Stock Split In 2024: The company recommended 1:2 stock split in 2024 and fixed July 19, 2024 as the record date.

Bonus Share History: Elecon Engineering Company offered 1 bonus issue since October 10, 2007. Its last bonus issue was declared in the ratio 2:1 with ex-date fixed as October 10, 2007.

Shareholding: FII/FPI have increased holdings from 7.58% to 9.10% in June 2024 quarter. Number of FII/FPI investors increased from 151 to 179 in June 2024 quarter. Mutual Funds have increased holdings from 1.30% to 1.85% in June 2024 quarter. Institutional Investors have increased holdings from 9.87% to 11.65% in June 2024 quarter, according to Trendlyne.

About: Founded in 1951 by late Shri Ishwarbhai B. Patel in Goregaon, Mumbai, Elecon Group embarked on a journey of excellence. Initially specializing in conveyor systems, Elecon quickly evolved into a key player in Engineering, Procurement, and Construction projects in India, according to its official website.

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