Elgi Equipments bucks weak market trend; zooms 54% in five weeks

The company remains optimistic with respect to growth in FY23 and are well prepared to achieve revenue targets for the year

bull, markets, shares, stocks, bse, growth, sensex, nse

SI Reporter Mumbai
Shares of Elgi Equipments (Elgi) rallied 5 per cent to Rs 397 on the BSE in Friday's intra-day trade on healthy business outlook. In comparison, the S&P BSE Sensex was down 0.43 per cent at 51,273 points at 01:07 PM.

The stock of the compressors & pumps' maker has zoomed 54 per cent in the past five weeks as compared to 3 per cent decline in the benchmark index. It had hit a 52-week high of Rs 422.70 on February 8, 2022.

Elgi manufactures wide range of air compressors (around 90 per cent of revenue) and automotive equipment

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First Published: Jun 17 2022 | 1:39 PM IST

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