Small Cap Stock Order: Shares of small-cap company ELGI Equipments Ltd are in focus today. On the National Stock Exchange (NSE) on Tuesday, the company’s shares rose 10.26 percent to Rs. 538.90 reached an all-time high. There is a big reason behind this rise in shares. Indeed, the company has received a large order from Siemens.
What is the order?
According to an exchange filing, the company has received an order from Siemens for supply and maintenance of air generation and treatment units and auxiliary compressors. The order is to be implemented by the company over a period of 10 years and requires maintenance for 35 years from the date of supply. It consists of 2400 sets of air screw compressors and 1200 auxiliary compressors with dryer packages.
About the company
Algi Equipments along with its subsidiaries is engaged in the business of manufacturing and supplying air compressors and automotive equipment. It also provides related after sales services. As per its latest shareholding pattern, retail investors hold 37.08 per cent, promoters 31.19 per cent, foreign institutions 28.41 per cent, mutual funds 3.31 per cent and other domestic institutions 0.01 per cent.