The Haryana based, construction and farm equipment player, Escorts Ltd’s stocks are surging high on Friday, up by nearly 4% in expectations of strong tractor sales numbers. So far the stock has appreciated by 273% in 2016-17, aided by strong operational performance.
During first 11 months (April to February) of FY17, its agri-machinery segment reported 23% YoY growth in tractor sales at 56707 units. According to the estimates of CRISIL, domestic tractor sales by the end of FY2017 will grow 16%-18%, aided by monsoon led increase in demand.
It is an engineering company, which offers construction equipment and agricultural tractors. Company’s segments include Railway Equipment, Agri Machinery, Auto Ancillary Products, Construction Equipments, etc. Escorts Ltd is currently trading at Rs 513.65, up by Rs 18.4 or 3.72% from its previous closing of Rs 495.25 on the BSE.
The scrip opened at Rs 500 and has touched a high and low of Rs 517.9 and Rs 500 respectively. So far 2744076(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 6070.77 crore.
The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 504.9 on 07-Mar-2017 and a 52 week low of Rs 127.05 on 16-Mar-2016. Last one week high and low of the scrip stood at Rs 504.9 and Rs 458 respectively.
The promoters holding in the company stood at 42.99 % while Institutions and Non-Institutions held 17.1 % and 39.91 % respectively. The stock is currently trading above its 50 DMA.