Meanwhile, the S&P BSE Sensex was up 211.26 points, or 0.71%, to 29,831.76

On BSE, so far 1.39 lakh shares were traded in the counter, compared with an average volume of 57,368 shares in the past one quarter. The stock hit a high of Rs 55.95 and a low of Rs 54.55 so far during the day. The stock hit a 52-week high of Rs 74 on 19 October 2016. The stock hit a 52-week low of Rs 45.40 on 22 November 2016.

The stock had underperformed the market over the past 30 days till 31 March 2017, falling 0.84% compared with the Sensex's 2.71% rise. The scrip had also underperformed the market over the past one quarter, sliding 7.28% as against the Sensex's 11.24% rise.

The small-cap company has an equity capital of Rs 22.44 crore. Face value per share is Rs 2.

Elecon Engineering Company announced that it has bagged order worth Rs 130 crore from Ramagundam Fertilizers and Chemicals for installing urea bagging and conveying systems at their complex at Ramagundam, Telangana. The company also recently received orders worth of Rs 45 crore in cement, power, port and coal sectors.

On a consoldiated basis, Elecon Engineering Company reported net loss of Rs 9.48 crore in Q3 December 2016 as compared to net profit of Rs 7.16 crore in Q3 December 2015. Net sales fell 13.42% to Rs 284.32 crore in Q3 December 2016 over Q3 December 2015.

Elecon Engineering Company is one of Asia's largest gear manufacturing company with vast experience of about five decades and significant business presence in India and abroad. The company designs and manufactures worm gears; parallel shaft and right angle shaft; helical and spiral level helical gears; fluid geared and flexible couplings, as well as planetary gear boxes. The company also manufactures material handling equipment, mining equipment, casting processes amongst others.