Stock of Interest

Posted On: August 30, 2023

Stock Report: ELECON(NSE) 29 Aug 2023 

Elecon Engineering Co Ltd is an India-based company engaged in manufacturing of material handling equipment and industrial gears. It operates through two segments, namely, Material Handling Equipment segment, which engages in the manufacturing of raw material handling system, stackers, reclaimers, bagging and weighing machines, wagon and truck loaders, crushers, wagon tipplers, feeders and port equipment; and Transmission Equipment segment, which manufactures material transmission equipment like gearboxes, couplings and elevator traction machines. It generates maximum revenue from transmission equipment sales. The group has a business presence in India and Outside India.  

#xCalData predicts that ELECON will continue its bullish phase over the next five days and trend within the range of 828 to 886. 

In comparison to the previous month, the price of the stock has experienced an increase of 12.99% indicating a bullish. 

The Stock has doubled thrice since 16 Feb 2015 and took an average of 2.6 years to double.

The stock has not shown seasonality trend in the past. 

Reviewing the returns for the past 4 years for the same week, we see the stock has given negative returns in 2 years in the past. 

Majority of the technical ratios trend towards Bullish side of the spectrum. Only some of the technical indicators namely HeikinAshi indicate Bearish view. 

Collectively, xCalData suggests the stock would be in Bullish zone for next 5 days. 

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