Escorts moves up on lining up capex of up to Rs 400 crore for ongoing fiscal
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Escorts is currently trading at Rs. 1619.90, up by 70.90 points or 4.58% from its previous closing of Rs. 1549.00 on the BSE.
The scrip opened at Rs. 1550.00 and has touched a high and low of Rs. 1624.35 and Rs. 1550.00 respectively. So far 16492 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1930.00 on 05-Apr-2022 and a 52 week low of Rs. 1113.05 on 17-May-2021.
Last one week high and low of the scrip stood at Rs. 1624.35 and Rs. 1535.00 respectively. The current market cap of the company is Rs. 21195.60 crore.
The promoters holding in the company stood at 28.10%, while Institutions and Non-Institutions held 3.96% and 67.93% respectively.
Escorts has lined up a capex of up to Rs 400 crore for the ongoing fiscal for new product introduction and creation of production capacity for the same. The company, which has started exporting electric tractors to markets like the US and Europe, expects it to contribute up to 15 per cent of its overall overseas shipments in the next five to six years.
Escorts is one of India's leading engineering conglomerates with over six decades of experience. It has helped accelerate India’s socio-economic development through its presence across the high growth sectors of Agri-machinery, construction & material handling equipment and railway equipment.
