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Escorts scrip races ahead on sales, profit

Nanda said the company would focus on three verticals: tractors, construction equipment and railways

Ajay Modi  |  New Delhi 

Nikhil Nanda, managing director of Escorts, was pleasantly surprised early this month when an employee walked up to him on the shop floor to talk about the performance of the company’s stock. A series of block deals has taken the Escorts stock to a high of Rs 528, up four times from Rs 130 in March last year. In the last one month, the stock has rallied over 26 per cent. The Faridabad-headquartered company is on an upswing; tractor sales have grown by 23 per cent in in 2016-17,  higher than the industry’s 17 per cent, and profit has surged over 54 per cent to Rs ...

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First Published: Tue, March 21 2017. 02:06 IST
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