Shares of Elecon Engineering were trading above 2% on 20 October after the company secured an order from ArcelorMittal Nippon Steel India Limited.

In its regulatory filing, the company said that it has received an Rs 51.4 crore order from ArcelorMittal Nippon Steel India Limited, for the supply and supervision of a Pipe Conveyor System for its Hazira Plant, Gujarat.

The order also includes designing, engineering, manufacturing, supplying, transporting, and supervising at the site for the assembling, testing, and commissioning of 1 pipe conveyor. The said order has to be executed in a period of 24 months.

The Board of Directors are set to meet on 20 October to consider the unaudited financial results for the July-September quarter and also to consider interim dividend on equity shares.

In a period of six months, the shares of the company have gained more than 78% and more than 115% in one year.

At 11:12 am, the shares of Elecon Engineering were trading 1.72% above at Rs 800.50 on NSE.