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Elecon Engineering Company Ltd, a prominent name in the Indian engineering sector, specializes in the manufacturing of equipment crucial for a variety of industries, such as power generation, cement production, and material handling systems. Established in 1951, Elecon has developed a solid reputation rooted in the quality and reliability of its products. With its continuous innovation and commitment to excellence, Elecon Engineering is well-positioned to cater to an expanding market driven by increasing infrastructure demands. Keeping an eye on the stock performance, as of October 18, 2024, the Elecon Engineering share price on the NSE stands at ₹627.00 INR. In this article, we will provide comprehensive details regarding the Elecon Engineering share price targets from 2024 to 2030, along with insights into market dynamics and the risks associated with investing in this dynamic company.
Market Overview of Elecon Engineering Company Ltd
- Open Price: ₹718.70
- High Price: ₹718.70
- Low Price: ₹621.00
- Previous Close: ₹721.45
- Volume: 3,580,082
- Value (Lacs): ₹22,425.63
- VWAP: ₹657.53
- UC Limit: ₹865.70
- LC Limit: ₹577.20
- P/E ratio: 39.52
- Div Yield: 0.24%
- 52-wk High: ₹739.10
- 52-wk Low: ₹356.62
- Market Cap: ₹14.07K Cr
- Face Value: ₹1
Competitors of Elecon Engineering Company Ltd
In the competitive landscape of engineering and manufacturing, several companies pose competitive challenges to Elecon Engineering Company Ltd. Here are five key competitors, along with their respective market capitalizations as of the latest data:
- Bharat Bijlee Ltd
- Market Capitalization: ~$600 million
- Bharat Bijlee specializes in manufacturing electrical equipment and transformers, contributing to the competitive landscape in the engineering sector.
- Siemens Ltd
- Market Capitalization: ~$10 billion
- Siemens is a global technology giant offering a diverse range of engineering solutions, including automation, drives, and industrial equipment.
- L&T (Larsen & Toubro) Ltd
- Market Capitalization: ~$27 billion
- L&T stands as one of India’s foremost engineering and construction enterprises, providing comprehensive solutions across various sectors, including heavy machinery.
- Crompton Greaves Consumer Electricals Ltd
- Market Capitalization: ~$3 billion
- Crompton Greaves manufactures a range of electrical consumer goods and industrial equipment, positioning itself as a competitor in the electrical engineering domain.
- KSB Ltd
- Market Capitalization: ~$1.2 billion
- KSB is renowned for its pumps and valves, providing engineering solutions across multiple industries like water and waste management.
Elecon Engineering Share Price Chart
Future Share Price Targets for Elecon Engineering (2024 – 2030)
| Target Year | Price Target (INR) |
| 2024 | ₹735 |
| 2025 | ₹1064 |
| 2026 | ₹1353 |
| 2027 | ₹1678 |
| 2028 | ₹1932 |
| 2029 | ₹2210 |
| 2030 | ₹2565 |
Elecon Engineering Share Price Target for 2024
The anticipated share price target for Elecon Engineering in 2024 is estimated to be around ₹735. The following are three significant factors that could contribute to the growth of Elecon Engineering Company Ltd’s share price in 2024:
- Growing Demand for Industrial Equipment: As sectors such as power generation and manufacturing continue to expand, the demand for Elecon’s engineering solutions will likely increase. The firm can potentially benefit from its ability to secure market share through infrastructure investments.
- Commitment to Innovation: The company’s emphasis on research and development will be essential for maintaining its competitive edge. By continually updating its product lines, Elecon can cater to evolving customer needs and drive profitability.
- Supportive Government Policies: Favorable governmental initiatives aimed at boosting infrastructure growth in India could provide crucial opportunities for Elecon Engineering. Heightened capital expenditure in public projects is expected to positively contribute to revenue growth through increased contract awards.
Elecon Engineering Share Price Target for 2025
The projected share price target for Elecon Engineering in 2025 is around ₹1064. However, the company might face several risks and challenges that could affect its performance:
- Raw Material Price Volatility: The company’s operational expenses are significantly influenced by raw material costs. Fluctuations in the prices of steel and copper can lead to increased production costs, subsequently affecting profit margins and financial health.
- Intense Market Competition: The engineering sector is characterized by fierce competition. If competitors emerge with advanced technologies or better pricing strategies, Elecon could face pressure on its market share and profitability.
- Economic Downturns: Any slowdowns within the economy or a decline in demand within key sectors may adversely impact Elecon’s revenue. Funding reductions or project delays from clients could result in lower sales, influencing overall share price stability.
Elecon Engineering Share Price Target for 2030
For the year 2030, Elecon Engineering’s share price target is projected to be around ₹2565. The following challenges and risks are significant considerations for the company’s long-term outlook:
- Technological Advancements: The rapid pace of technological progress demands continual innovation. Elecon must invest significantly in automation and digitalization to remain relevant and competitive. Failing to adapt could hinder its market position.