 "Escorts AGM: Institutions dissent heavily on three resolutions")
Escorts hit new high of Rs 478, up 4.4% on the BSE in intra-day trade after the company’s Agri Machinery Segment (EAM) in February 2017, sold 4,247 tractors, with a growth of 29.5% against 3,280 tractors in February 2016.
The tractor sales growth was highest in past four months in percentage terms. Earlier in October 2016, EMA volumes grew by 53% to 8,970 units.
“The company’s domestic sales is up by 28.7% at 4,104 units versus 3,190 units year on year (YoY) while, export sales up 59% at 143 tractors against 90 tractors in February 2016,” Escorts said in a release.
Escorts Limited is an engineering company, which offers agricultural tractors and construction equipment. The company’s segments are agri machinery, railway equipment, auto ancillary products, construction equipments & others.
In past one month, the stock outperformed the market by surging 23% as compared to 1.8% rise in the S&P BSE Sensex.
Escorts had reported 55% YoY jump in net profit at Rs 101 crore for the first nine months (April to December) of the current financial year 2016-17. EBITDA ((earnings before interest, taxes, depreciation and amortization) margin improved to 8% against 5.1% last year.
At 10:35 am; the stock was up 3.4% at Rs 474 on BSE against 0.2% decline in the benchmark index. A combined 1.74 million shares changed hands on the counter on BSE and NSE so far.
The tractor sales growth was highest in past four months in percentage terms. Earlier in October 2016, EMA volumes grew by 53% to 8,970 units.
“The company’s domestic sales is up by 28.7% at 4,104 units versus 3,190 units year on year (YoY) while, export sales up 59% at 143 tractors against 90 tractors in February 2016,” Escorts said in a release.
Escorts Limited is an engineering company, which offers agricultural tractors and construction equipment. The company’s segments are agri machinery, railway equipment, auto ancillary products, construction equipments & others.
In past one month, the stock outperformed the market by surging 23% as compared to 1.8% rise in the S&P BSE Sensex.
Escorts had reported 55% YoY jump in net profit at Rs 101 crore for the first nine months (April to December) of the current financial year 2016-17. EBITDA ((earnings before interest, taxes, depreciation and amortization) margin improved to 8% against 5.1% last year.
At 10:35 am; the stock was up 3.4% at Rs 474 on BSE against 0.2% decline in the benchmark index. A combined 1.74 million shares changed hands on the counter on BSE and NSE so far.
