Escorts inches up amid volatility after strong sales in September
Escorts rose 0.63% to Rs 88 at 12:28 IST on BSE after the company said its total tractor sales rose 32.7% to 6,465 units in September 2013 over September 2012.
The company announced the sales numbers during trading hours today, 3 October 2013.
Meanwhile, the S&P BSE Sensex was up 299.02 points or 1.53% at 19,816.17.
The stock rose on high volumes. On BSE, 7.38 lakh shares were traded in the counter as against average daily volume of 3.99 lakh shares in the past one quarter.
The stock was volatile. The stock rose as much as 3.25% at the day's high of Rs 90.30 so far during the day. The stock lost as much as 0.17% at the day's low of Rs 87.30 so far during the day. The stock had hit a 52-week high of Rs 95.50 on 16 August 2013. The stock had hit a 52-week low of Rs 48.35 on 28 March 2013.
The stock had outperformed the market over the past one month till 1 October 2013, surging 6.45% compared with the Sensex's 4.82% rise. The scrip had also outperformed the market in past one quarter, jumping 14.02% as against Sensex's 0.31% fall.
The small-cap company has equity capital of Rs 122.58 crore. Face value per share is Rs 10.
Escorts Agri Machinery (EAM)'s domestic tractor sales rose 33.5% to 6,397 units in September 2013 over September 2012. Exports declined 12.8% to 68 units in September 2013 over September 2012.
Escorts' net profit galloped 215.6% to Rs 58.30 crore on 16.2% growth in net sales to Rs 1172.89 crore in Q3 June 2013 over Q3 June 2012.
Escorts is one of India's leading engineering conglomerates. The company has diversified business into four different segments: Escorts Agri Machinery (EAM), Escorts Construction Equipment (ECE), Escorts Railway Products (ERP) and Escorts Auto Products (EAP).
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