Introduction:
Elecon Engineering Company Ltd. (ELECON) is a leading manufacturer of Material Handling Equipment and Incraft carriers in India. The company has a rich history dating back to 1960 and has been a part of the NSE since its inception. In this blog post, we will analyze the company's financial performance and provide a bullish signal for long-term investors.
Financial Performance:
ELECON has consistently shown a positive trend in its financial performance over the years. The company's sales have been increasing steadily, with a growth rate of 13% in the last year. The company's operating profit has also been on an upward trend, with a growth rate of 22% in the last year. The company's net profit has been increasing at a rate of 21% in the last year.
Technical Analysis:
The company's stock price has been trading above its 90-day moving average, which is a bullish signal. The RSI (Relative Strength Index) is also showing a bullish signal, indicating that the stock is oversold and ready to bounce back. The MACD (Moving Average Convergence Divergence) applied on OBV (On Balance Volume) is also showing a bullish signal, indicating that the stock is ready to make a new high.
Quarterly Results:
ELECON's quarterly results have been impressive, with a growth rate of 13% in sales, 22% in operating profit, and 21% in net profit. The company's other income, interest, and depreciation have also been increasing steadily.
Conclusion:
In conclusion, Elecon Engineering Company Ltd. (ELECON) is a bullish stock with a strong financial performance and a positive technical analysis. The company's quarterly results have been impressive, and the stock is trading above its 90-day moving average, indicating that it is ready to bounce back. We recommend long-term investors to consider this stock for their portfolio.
Elecon Engineering Company Ltd. (ELECON) is a leading manufacturer of Material Handling Equipment and Incraft carriers in India. The company has a rich history dating back to 1960 and has been a part of the NSE since its inception. In this blog post, we will analyze the company's financial performance and provide a bullish signal for long-term investors.
Financial Performance:
ELECON has consistently shown a positive trend in its financial performance over the years. The company's sales have been increasing steadily, with a growth rate of 13% in the last year. The company's operating profit has also been on an upward trend, with a growth rate of 22% in the last year. The company's net profit has been increasing at a rate of 21% in the last year.
Technical Analysis:
The company's stock price has been trading above its 90-day moving average, which is a bullish signal. The RSI (Relative Strength Index) is also showing a bullish signal, indicating that the stock is oversold and ready to bounce back. The MACD (Moving Average Convergence Divergence) applied on OBV (On Balance Volume) is also showing a bullish signal, indicating that the stock is ready to make a new high.
Quarterly Results:
ELECON's quarterly results have been impressive, with a growth rate of 13% in sales, 22% in operating profit, and 21% in net profit. The company's other income, interest, and depreciation have also been increasing steadily.
Conclusion:
In conclusion, Elecon Engineering Company Ltd. (ELECON) is a bullish stock with a strong financial performance and a positive technical analysis. The company's quarterly results have been impressive, and the stock is trading above its 90-day moving average, indicating that it is ready to bounce back. We recommend long-term investors to consider this stock for their portfolio.