Shares of ELGI Equipments Ltd, a small-cap company, surged by 10.26 percent, hitting an all-time high at Rs 538.90 on the National Stock Exchange (NSE) yesterday.
The driving force behind this remarkable increase is the substantial order the company has secured from Siemens.
The Siemens Order
As per an official exchange filing, ELGI Equipments has clinched an extensive contract from Siemens for the supply and maintenance of air generation and treatment units, including auxiliary compressors.
This contract spans over a decade for execution and mandates maintenance for 35 years from the supply date.
The order comprises 2400 sets of air screw compressors and 1200 auxiliary compressors with dryer packages.
About ELGI Equipments
ELGI Equipments and its subsidiaries specialize in the manufacturing and distribution of Air Compressors and Automotive Equipment.
The company also offers comprehensive after-sales services. Notably, the current shareholding pattern shows retail investors holding 37.08 percent, promoters at 31.19 percent, foreign institutions at 28.41 percent, mutual funds at 3.31 percent, and other domestic institutions at 0.01 percent.
