SBI MF buys 2.06 million shares of Elgi Equipments, stock jumps 6%; details

Compressors, pumps, and diesel engines manufacturer Elgi Equipments witnessed a surge in its shares on Wednesday, November 26, following news of a bulk deal. The company’s stock price rose 6.13 per cent to log an intra-day high of ₹510 per share on the NSE on Wednesday.

 

The stock has recovered over 27 per cent from its 52-week low of ₹401 per share, touched earlier this year on April 9 on the NSE. However, Elgi Equipments shares remain down 24 per cent from their 52-week high of ₹673.90 per share, reached on November 26 last year, on the NSE.

 

Investor interest in the counter remains robust. At 10:38 AM, Elgi Equipments was trading at ₹498.95, up 3.69 per cent from the previous close of ₹480.50 on the NSE on Wednesday. Meanwhile, the benchmark NSE Nifty50 was trading at 26,083.55, up 198.75 points, or 0.77 per cent.

 

During the day so far, a total of 2.51 million equity shares of Elgi Equipments, valued at ₹128.70 crore, changed hands on the NSE and BSE. As of November 26, the company’s market capitalisation stood at ₹15,782.07 crore on the NSE.

SBI Mutual Fund buys stake in Elgi Equipments 

According to NSE data, SBI Mutual Fund acquired 20,61,915 equity shares of Elgi Equipments at an average cost of ₹483 per share. The transaction translates to a total investment of ₹99.59 crore.  Data available on the exchange shows that SBI Mutual Fund held 1,35,72,461 shares of the company at the end of the September quarter. Following this transaction, the total number of shares held by SBI Mutual Fund rose to 1,56,34,376.

 

Elgi Equipments Q2 results

The company announced that on a consolidated basis, its profit after tax (PAT) stood at ₹121 crore for the quarter ended September 2025, up from ₹95 crore in the same period of 2024-25, reflecting a growth of 27 per cent. Standalone PAT for the quarter was ₹91 crore, compared with ₹98 crore in the corresponding period of 2024-25.

 

Consolidated sales for the quarter stood at ₹968 crore, up from ₹869 crore in the same quarter in 2024-25, representing growth of 11 per cent. Standalone sales for the quarter were ₹568 crore, up from ₹531 crore in the same quarter last year, a growth of 7 per cent.