Escorts Kubota gains as its agri machinery segment reports 7% fall in tractors sales in January 2024
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Escorts Kubota is currently trading at Rs. 3025.00, up by 43.00 points or 1.44% from its previous closing of Rs. 2982.00 on the BSE.
The scrip opened at Rs. 2987.15 and has touched a high and low of Rs. 3025.00 and Rs. 2987.15 respectively. So far 740 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 3435.20 on 11-Oct-2023 and a 52 week low of Rs. 1809.95 on 27-Mar-2023.
Last one week high and low of the scrip stood at Rs. 3057.25 and Rs. 2937.15 respectively. The current market cap of the company is Rs. 32950.58 crore.
The promoters holding in the company stood at 67.64%, while Institutions and Non-Institutions held 15.55% and 16.81% respectively.
Escorts Kubota’s Agri Machinery Business Division has sold 6,185 tractors in January 2024 as against 6,649 tractors sold in January 2023, registering a fall of 7%. Domestic tractor sales in January 2024 were at 5,817 tractors as against 6,235 tractors sold in January 2023. The delay in Rabi sowing and lower water reservoir levels especially in Central and Southern regions, has negatively impacted rural sentiments and affected tractor sales in the current month. Export tractor sales in January 2024 were at 368 as against 414 tractors sold in January 2023.
Escorts Kubota 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.
