If one looks at the stock performance, most of them have given positive returns consistently in the last three years. Industrial equipment maker Elpro International, GMM Pfaudler, Inox Wind, Asahi India Glass, Indian Hotels, and Blue Dart Express have given double-digit returns in the current financial year despite the volatility in the market.

Decarbonisation, sustainability, manufacturing and consumption are the themes that have emerged in India in the last two years

Indian markets opened higher on Thursday tracking positive global cues. The S&P BSE Sensex rose more than 100 points while Nifty50 reclaimed 18,300 levels.

Elecon Engineering Company Ltd., incorporated in the year 1960, is a Small Cap company (having a market cap of Rs 5013.66 Crore) operating in Engineering sector.

Britannia Industries in the latest week has given a breakout of Inverse Head and Shoulder pattern, indicating beginning of the uptrend. The breakout is confirmed by the Higher volumes and a gap.

HPL Electric and Power is in classical bullish momentum. The overall structure of the counter is lucrative, as it is trading above all of its moving averages

Elecon Engineering is a multibagger smallcap with a market capitalization of around Rs 4,100 crore. Established in 1951, the company was the pioneer in manufacturing industrial geared motors and reducers, material handling equipment, mining equipment, casting processes etc. The company is among the largest manufacturers of material handling equipment and industrial gears in Asia.

Ambar Protein Industries and IKAB Securities & Investment also rallied 2,636 per cent and 1,847 per cent respectively during the period. Gensol Engineering also rose 1,637 per cent during the same period, the data suggest.

In Fridays trading session, the counter has given a breakout of the triangle formation. The overall structure of the counter looks remunerative, as it trades above all its important SMA moving averages. The demand zone is near Rs 326.

The Nifty IT index closed 0.17 per cent up at 28216.0.

In the Nifty pack, 20 stocks closed in the green, while 30 stocks ended in the red.

Elecon Engg Co, Vinyl Chemicals, eMudhra Ltd., Kirloskar Elec and Apar Industries, hit their fresh 52-week highs during the day.

The Nifty Pharma index closed 1.02 per cent down at 12488.8.

The Nifty Bank index closed 0.03 per cent down at 36726.4.

The Nifty Realty index closed 0.46 per cent down at 437.5.

M&M, RIL, Maruti Suzuki, ONGC and Eicher Motors were among the top losers on NSE in today's trade.

In the Nifty50 index, 20 stocks closed in the green, while 30 stocks ended in the red.

The Nifty Auto index closed 1.67 per cent down at 12423.7.

The Nifty IT index was trading 0.22 per cent down at 28105.6.

The Nifty Bank index was trading 0.67 per cent down at 36493.9.

Elecon Engg Co, eMudhra Ltd., Vinyl Chemicals, Kirloskar Elec and Network People Services Technologies Ltd., hit their fresh 52-week highs at 11:15AM.

RIL, ONGC, Grasim Inds., Kotak Bank and Eicher Motors were among the top losers on NSE.

The Nifty Auto index was trading 0.63 per cent down at 12554.5.

The Nifty Pharma index was trading 0.93 per cent down at 12499.7.

The Nifty Realty index was trading 0.3 per cent down at 438.2.

​Vaibhav Global, down 60 per cent, emerged as the worst performer from his portfolio in last year. However, he added 1,55,000 equity shares of the Gems and jewellery player during the quarter and increased his stake to 1.95 per cent from 1.86 per cent.

PC Jeweller, Himadri Speciality, Mirza Intnl, Elecon Engg Co and Shalimar Paints, hit their fresh 52-week highs during the day.

The Nifty Auto index closed 1.05 per cent up at 12252.5.

The Nifty Pharma index closed 0.93 per cent up at 12564.85.

Bharti Airtel, TCS, HCL Tech, BPCL and Infosys were among the top losers on NSE in today's trade.

The Nifty Bank index closed 0.98 per cent up at 35469.65.

Tata Steel, Britannia Industries, Devyani International, Bank of Maharashtra, Sundaram Clayton, Elecon Engineering Company, Bliss GVS Pharma, Rane Brake Lining, Artson Engineering, Rane Engine Valve and Morarka Finance have their annual general meetings (AGMs) today. Meanwhile, Scanpoint Geomatics will have an EGM today.

“We do not have a lot of commodities but whatever we had, we trimmed a significant portion of their weights primarily on valuations because in cyclical upturns, their valuations have started trading at premium valuations compared to their historical bands. We have trimmed that and we are waiting patiently. ”

Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services, said while the overall market set-up continues to remain ‘sell on the rise, intermittent bouts of relief rally cant be ruled out. “Hence we suggest traders to remain cautious of sharp volatility and carry light positions going forward," he said.

In the Nifty pack, 47 stocks were trading in the green, while 3 stocks were trading in the red.