Eimco Elecon gains attention after stake purchase, shows strong short-term momentum

Eimco Elecon (India) Ltd., a key player in mining and construction equipment, has drawn market attention after investor Vijay Kedia picked up a stake worth around ₹11 crore through bulk deals. The stock witnessed strong volumes and a sharp price rise following this development. The company manufactures dumpers, loaders, and drilling machines used in mining operations, and maintains a debt-free balance sheet with steady profit growth. Technically, the stock is trading near its recent highs, showing short-term momentum. However, after such a quick rally, some consolidation or profit booking can’t be ruled out as traders await fresh cues for its next directional move. Disclaimer: Investments in securities are subject to market risk. This is for educational purposes ***** must verify information before investing and consider their financial position & risk profile. please read full disclosure disclaimer in given link