Elgi Equipments gains on aiming to perform well in FY22

Elgi Equipments is currently trading at Rs. 220.35, up by 4.85 points or 2.25% from its previous closing of Rs. 215.50 on the BSE.

The scrip opened at Rs. 221.50 and has touched a high and low of Rs. 226.15 and Rs. 217.25 respectively. So far 58112 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 244.00 on 20-Apr-2021 and a 52 week low of Rs. 62.50 on 26-May-2020.

Last one week high and low of the scrip stood at Rs. 226.15 and Rs. 203.00 respectively. The current market cap of the company is Rs. 6940.31 crore.

The promoters holding in the company stood at 31.91%, while Institutions and Non-Institutions held 32.46% and 35.62% respectively.

Elgi Equipments is aiming to perform 'reasonably well' during the current financial year in the wake of the COVID-19 pandemic. The compressor business performance during the fourth quarter was 'commendable' while on a year-on-year basis it saw a 'marginal growth' over last year. The effects and longevity of the pandemic are still unknown and it would certainly have a bearing on the business for 2021-22.

Elgi Equipments is a holding company and an air compressor manufacturer. The company’s segments include Compressors, Automotive Equipments and Others.