Elecon Engineering up nearly 8% after company pledges shares with Bajaj Finance

IRB Infrastructure Developers  | In 2020 so far, the share price has moved up 76 percent to Rs 131.20. It's trailing twelve months (TTM) P/E was 6.40 multiple while 5-year average P/E was 8.30 multiple.

Shares of Elecon Engineering Company gained nearly 8 percent intraday Wednesday as company pledged shares with Bajaj Finance.

Elecon is Bajaj Finance’s customer who has borrowed from them and pledged shares in Bajaj Finance’s favour.

At 12:08 hrs Elecon Engineering Company was quoting at Rs 65.80, up Rs 3.85, or 6.21 percent on the BSE.

The share touched its 52-week high Rs 113.50 and 52-week low Rs 45.00 on 21 December, 2017 and 11 August, 2017, respectively.

Currently, it is trading 42.95 percent below its 52-week high and 43.89 percent above its 52-week low.

The company's trailing 12-month (TTM) EPS was at Rs 0.72 per share. (Mar, 2018). The stock's price-to-earnings (P/E) ratio was 88.33. The latest book value of the company is Rs 65.72 per share.