Escorts surges after reporting good Q1 earnings

Escorts jumped 4.37% to Rs 670 at 12:15 IST on BSE after net profit rose 33.39% to Rs 62.64 crore on 11.85% increase in total income to Rs 1183.65 crore in Q1 June 2017 over Q1 June 2016.

The result was announced during market hours today, 28 July 2017.

Meanwhile, the S&P BSE Sensex was down 159.78 points, or 0.49% at 32,223.52. The S&P BSE Mid-Cap index was up 73.83 points, or 0.48% at 15,329.49.

On the BSE, 3.53 lakh shares were traded on the counter so far as against the average daily volumes of 2.66 lakh shares in the past one quarter. The stock had hit a high of Rs 679.40 and a low of Rs 627.10 so far during the day. The stock had hit a record high of Rs 767.70 on 6 June 2017 and a 52-week low of Rs 247.20 on 27 July 2016.

The stock had underperformed the market over the past one month till 27 July 2017, declining 1.25% compared with the Sensex's 4.6% rise. The scrip had, however, outperformed the market over the past one quarter advancing 17.57% as against the Sensex's 7.84% rise. The scrip had also outperformed the market over the past one year advancing 153.69% as against the Sensex's 15.55% rise.

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

Speaking on the results, Chairman Rajan Nanda said, Government's renewed focus on farm mechanisation and smart city infrastructure has provided positive momentum to the industry, resulting in to an upward trend in market demand. The company continues investing in technology, efficient distribution and product mix for enhanced agility, dynamism and customer responsiveness.

Escorts is one of India's leading engineering conglomerates. The company has diversified business in to three different segments: escorts agri machinery, escorts construction equipment and railway equipment division.

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