Small Cap Engineering Stock Recommends 50% Dividend, Rallies 19.99%, Hits New 52-Week High

Eimco Elecon (India) Ltd. recommends a dividend of 50% on 57,68,385 fully paid equity shares of Rs 10 each for the financial year ended March 31, 2023.

This is a small-cap engineering sector stock having a market capitalisation of Rs 269.04 crore. The company is engaged in the business of Manufacturing and Marketing Equipment for Underground and Opencast mines.

Recommends a Dividend of 50% on 24th April 2023

The Board of Directors of Eimco Elecon (India) Ltd. in their regulatory filing has said, "Recommended a dividend of 50% (Rs. 5/- per equity share) on 57,68,385 fully paid equity shares of Rs. 10/- each, for the year ended March 31, 2023, subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM) of the Company, which shall be paid/ dispatched on or before 30 days from the conclusion of AGM;"

Eimco Elecon's Stock Overview

On Monday, the stock of Eimco Elecon last traded 19.99% higher at Rs 466.40 apiece. It hit the new 52 week high at Rs 466.40 apiece on 24 April 2023, while the 52-week low hit on 26 May 2022 at Rs 300 apiece.

The stock gained 17.2% in 1 week and 35.88% in 1 month, respectively. It has given 27.85% positive return in 1 year. The stock has given 105.28% positive return in 3 years and 5.39% in 5 years, respectively.

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