Elgi Equipments shares gain 5% after bulk deal by SBI Mutual Fund

Synopsis

Elgi Equipments shares: On July 8, 2025, SBI Mutual Fund purchased 1,812,760 shares of Elgi Equipments via a bulk deal at ₹532 per share, signaling robust institutional interest in the stock.

Shares of Elgi Equipments rose nearly 5% on Wednesday, trading around Rs 560. The stock’s upward movement followed a significant bulk deal and a routine regulatory disclosure by the company.

On July 8, 2025, SBI Mutual Fund acquired 1,812,760 shares of Elgi Equipments through a bulk deal at a price of Rs 532 per share, indicating strong institutional interest in the stock.

In addition to the bulk transaction, the company submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. This regulation mandates confirmation of securities dematerialised during the quarter.

According to the filing, Elgi Equipments confirmed that all securities received for dematerialisation for the quarter ended June 30, 2025, were processed by its Registrar and Share Transfer Agent, MUFG Intime India Pvt Ltd. The securities were either accepted or rejected by the depositories, and relevant updates were made in the company’s register of members.

“The security certificates received were mutilated and cancelled after verification, and the depositories’ names were substituted as the registered owners within the prescribed timelines,” the company stated in its filing.

While the regulatory update is a routine compliance measure, it assures investors that Elgi Equipments continues to meet SEBI’s procedural requirements.

On the technical front, the Daily RSI (14) for Elgi Equipments stands at 56.6, indicating neutral to moderately bullish momentum. (Note: An RSI below 30 suggests the stock is oversold, while a reading above 70 indicates it may be overbought.)

Additionally, the stock is showing strong bullish momentum across moving averages—it is currently trading above all 8 key Simple Moving Averages (SMAs), ranging from the 5-day to the 200-day SMA. This alignment of short- and long-term averages reinforces the stock’s positive trend and indicates strong underlying support across timeframes.

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