Vijay Kedia bought 57,441 shares of this small-cap company; Multibagger stock is locked in a 20% upper circuit

Today, shares of this Small-Cap company hit a 20 per cent Upper Circuit to Rs 2,301 per share from its previous closing of Rs 2,917.10 per share. The stock’s 52-week high is Rs 3,394.75 per share and its 52-week low is Rs 1,250 per share. The shares of the company saw a Spurt in Volume by more than 5.33 times on the BSE.

The sudden rise in the stock price was due to an Ace Investor, Vijay Kedia bought 57,441 shares at Rs 1,907 per share, aggregating to Rs 10,95,39,987 via the open market.

The stock name is Eimco Elecon (India) Ltd.

Eimco Elecon (India) Limited, founded in 1974, is a Gujarat-based manufacturer of equipment for underground and opencast mines. Pioneering intermediate technologies like side dump loaders in India, they primarily focus on underground coal mining machinery (nearly 90 per cent of revenue), including loaders, dump trucks and drills. They recently launched new loaders meeting the latest emission norms and introduced piling rigs under a "Make in India" initiative. Their manufacturing is located in Vallabh Vidyanagar, Gujarat and while currently heavily reliant on Coal India Ltd for revenue (around 60 per cent), they're exploring export opportunities for Construction equipment in Southeast Asia and Africa.

The company has a market cap of over Rs 1,300 crore with a 3-year stock price CAGR of 90 per cent. In its Quarterly Results (Q1FY26) and annual results (FY24), the company reported amazing numbers and was almost debt-free as of March 2025, i.e., Rs 13 lakh only. The stock is up by 84 per cent from its 52-week low of Rs 1,250 per share and has given multibagger returns of over 600 per cent in 5 years.

Disclaimer: The article is for informational purposes only and not investment advice.