Eimco Elecon shares surged 8% in Wednesday's trading session after Kedia Securities' latest investment disclosure, with the stock touching an intraday high of ₹1,905.50. The small-cap engineering company has demonstrated strong momentum with nearly 15% gains over the past month and around 18% returns over the last six months, though it has declined 26% over the past year. The stock has created substantial wealth for long-term investors, delivering multibagger returns of around 295% over the past five years, significantly outperforming broader market indices during this period.
Investor Vijay Kedia has recently acquired stakes in two companies through open-market bulk deals from promoters who were exiting their positions. According to reports from The Financial Express, Kedia purchased 3% stake in iWare Supplychain Services through a preferential allotment, acquiring approximately 345,600 shares in June 2026. He subsequently increased his holding to 6% by purchasing another 345,600 shares through Kedia Securities. Similarly, in Eimco Elecon, Kedia acquired a 1.45% stake worth ₹15 crore in June 2026, benefiting from the exit of foreign promoter Tamrock Great Britain Holdings which sold its entire 24.68% stake in late September 2025. As per recent filings, Kedia's entry came around the same time promoter holding fell from 74% to 69% as promoter entity Inter India Roadways was selling, with fresh demand from Kedia being met by supply from the promoter group. In a recent development, Kedia has further increased his Eimco Elecon stake through Kedia Securities Pvt. Ltd, purchasing 83,930 shares during the June 2026 quarter valued at around ₹150 million, bringing his total holding to a significant position in the mining equipment manufacturer. The latest acquisition values Kedia's Eimco Elecon holding at approximately ₹14.8 crore at current market prices of ₹1,755 per share.
The latest shareholding pattern reveals growing institutional interest in Eimco Elecon, with Foreign Institutional Investors (FIIs) increasing their stake to 3.25% during the June 2026 quarter from 3.10% in the March 2026 quarter. This modest increase in foreign investor participation comes alongside Kedia's strategic investment, signalling fresh institutional confidence in the company's prospects. Meanwhile, the promoter holding remained unchanged at 48.96%, indicating continued confidence from the promoters in the company's long-term prospects. The rise in both institutional and strategic investor interest comes as the stock continues to witness healthy trading activity in the broader smallcap space, with the company maintaining its position as a significant player in the mining equipment manufacturing sector.
Incorporated in 2018 and listed on NSE's SME Platform in May 2026, iWare Supplychain Services operates as a pan-India logistics company with a current market cap of ₹511 crore. The company runs five business lines including warehousing, transportation, rail rake handling, and rental income across more than 8 lakh square feet of warehousing space across seven states from Gujarat and Rajasthan to West Bengal and Delhi. The stock has experienced remarkable momentum, trading at approximately ₹444 as of July 13, 2026, representing a 450% surge from its listing price of around ₹80 in May 2026. The company reported impressive growth with revenue increasing from ₹19 crore in FY21 to ₹258 crore in FY26, though it reported negative cash flow of approximately ₹20 crore in FY26. As per exchange filings, the growth rates appear sensational but come off a very small base, with the real eye-catcher being FY26 when revenue jumped nearly three times from about ₹86 crore to ₹258 crore in a single year.
Both stocks have shown significant price movements following Kedia's acquisitions, with Eimco Elecon gaining 15% over the past month while improving FII participation. iWare Supplychain trades at a PE of 34x and 9 times book value, while Eimco Elecon trades at 26x compared to the industry median of 33x. The stock is currently trading at ₹1,755, significantly below its 52-week high of ₹2,548 recorded in August 2025, while its 52-week low stands at ₹1,413.70 recorded in March 2026. From a technical perspective, the 14-day Relative Strength Index (RSI) stands at 55, indicating neutral momentum, while the stock maintains a positive technical setup by trading above 6 out of 8 key simple moving averages, suggesting the broader trend remains constructive. The analysis suggests that while iWare represents a momentum play with strong growth potential, Eimco presents a value opportunity as a debt-free mining equipment manufacturer, with promoter holding remaining unchanged at 48.96%, reflecting continued promoter confidence in the company's prospects.
