Escorts gains on bargain hunting

Escorts rose 1.54% to Rs 290.85 at 11:46 IST on BSE on bargain hunting after a recent slide.

Meanwhile, the BSE Sensex was down 221.01 points, or 0.84%, to 26,021.37.

On the BSE, so far 90,000 shares were traded in the counter, compared with average daily volumes of 3.05 lakh shares in the past one quarter. The stock had hit a high of Rs 295 and a low of Rs 282.85 so far during the day.

The stock hit a record high of Rs 414.20 on 4 October 2016. The stock hit a 52-week low of Rs 112.70 on 12 February 2016. The stock had underperformed the market over the past 30 days till 21 December 2016, falling 1.55% compared with the 1.08% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 25.04% as against Sensex's 8.80% decline.

The mid-cap company has equity capital of Rs 122.58 crore. Face value per share is Rs 10.

Shares of Escorts fell 9.94% in four trading sessions to settle at Rs 286.45 yesterday, 21 December 2016, from its close of Rs 318.05 on 15 December 2016.

Net profit of Escorts rose 219.6% to Rs 31.29 crore on 21.7% rise in net sales to Rs 990.99 crore in Q2 September 2016 over Q2 September 2015.

Escorts is one of India's leading engineering conglomerates. The company has diversified business interests catering to agri-machinery, construction & material handling equipment, railway equipment and auto components.

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