Vijay Kedia-backed Vijay Kedia Securities bought nearly 1% stake in Eimco Elecon. (Photo source: NDTV Profit) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Shares of Eimco Elecon Ltd., a mining and construction equipment manufacturer, are trading with gains of more than 5% on Wednesday's trade after a Vijay Kedia-backed firm acquired stake in the company.

The stock is currently trading at Rs 2,040, reaching an intraday high of Rs 2,158. Over a year-to-date period, the stock has remained largely flat while correcting more than 28% in last 12 months.

The rally in Eimco Elecon comes on the back of ace investor Vijay Kedia acquiring nearly 1% stake in the company through an open market transaction.

According to exchange data, Kedia Securities Pvt. Ltd. purchased 57,441 eq

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