Stocks

Escorts on a fast lane; advances 7.50%

| Updated on September 28, 2020 Published on September 28, 2020

Nikhil Nanda, Chairman & Managing Director of Escorts Group

Escorts shares surged on Monday on a news report that its joint venture with Kubota Corportion has begun commercial production from September 25 amid better growth outlook for the tractor industy for the current fiscal.

Also, the tractor industry has revised its growth outlook upwards to high single-digit for the current fiscal from a marginal positive rate as the rural economy remains a silver lining amid Covid-19 crisis.

Reacting positively to these reports, the stock Escorts advanced by 90.20, or 7.50 per cent, to Rs 1,293.60 on the NSE today. Volumes traded in the counter were around 33 lakh shares as of now on the NSE.

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Published on September 28, 2020
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