Shares of Eimco Elecon (India) Ltd rallied 5.87% to Rs 2,030 on Tuesday after ace investor Vijay Kedia, through his investment arm Kedia Securities, purchased a nearly 1% stake in the mining and construction equipment maker via open market transactions on October 7.
According to bulk deal data, Kedia Securities bought 57,441 equity shares at an average price of Rs 1,906.71 per share, taking the total deal value to approximately Rs 10.95 crore. The move signals Kedia’s growing interest in niche manufacturing and infrastructure-support companies.
Eimco Elecon shares had already shown strong momentum, closing 5% higher at Rs 1,917.50 in the previous session with above-average volumes. The company currently holds a market capitalization of Rs 1,168 crore, with its stock trading between Rs 2,014.90 and Rs 2,158.80 during Tuesday’s session.
Meanwhile, investor activity also drew attention in other small-cap counters. Ashish Kacholia-backed Shaily Engineering Plastics surged 11.43% to Rs 2,407.7 after Lighthouse India Fund III, backed by institutional investors, sold 13.33 lakh shares (2.9% stake) at Rs 2,134 per share, amounting to Rs 284.5 crore.
Eimco Elecon, part of the Elecon Group, manufactures a wide range of mining and construction equipment and has been expanding its domestic footprint amid increasing demand for mechanized mining.
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