Eon Electric is currently trading at Rs. 41.50, up by 0.90 points or 2.22% from its previous closing of Rs. 40.60 on the BSE.
The scrip opened at Rs. 36.00 and has touched a high and low of Rs. 41.80 and Rs. 36.00 respectively. So far 1503 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 94.00 on 18-Apr-2011 and a 52 week low of Rs. 31.50 on 15-Dec-2011.
Last one week high and low of the scrip stood at Rs. 43.00 and Rs. 36.00 respectively. The current market cap of the company is Rs. 64.23 crore.
The promoters holding in the company stood at 49.97% while Institutions and Non-Institutions held 2.05% and 47.98% respectively.
Eon Electric (formerly Indo Asian Fusegear) is projecting to close FY 2012-13 with a turnover of Rs 200 crore which is 400% growth on turnover of year 2011-12. Moreover, the company is investing about Rs 125 crore in FY 2012-13 to augment its existing capacities as well as in green field ventures.
The company has taken several initiatives after selling its Switchgear Business, for growing its existing product portfolio of Wires, Lighting and Wiring Accessories by augmenting its capacities and adding specialty Cables, cutting edge LED technology in Lighting and Home Automation Devices which will control lights through presence sensor switches and ON and OFF devices at home to save 25 - 30% power, as well as guard homes against intruders, gas leakage, water leakage and will provide access control and remote surveillance of Homes through Telephone.
In separate development, EON is also launching a wide range of energy efficient Fans to widen its product offerings to the customers. EON has worked on new technologies of Fans which will be able to save upto 30% of power compared to the best rated Fans available in the market.
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