Escorts declines as its Agri Machinery Segment registers 2.6% fall in May sales

Escorts is currently trading at Rs. 1156.65, down by 14.95 points or 1.28% from its previous closing of Rs. 1171.60 on the BSE.

The scrip opened at Rs. 1182.15 and has touched a high and low of Rs. 1189.85 and Rs. 1156.30 respectively. So far 55849 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1468.40 on 09-Feb-2021 and a 52 week low of Rs. 895.45 on 12-Jun-2020.

Last one week high and low of the scrip stood at Rs. 1189.85 and Rs. 1125.05 respectively. The current market cap of the company is Rs. 15677.21 crore.

The promoters holding in the company stood at 36.59%, while Institutions and Non-Institutions held 31.55% and 31.86% respectively.

Escorts’ Agri Machinery Segment (EAM) has sold 6,423 tractors in May 2021 registering a fall of 2.6 percent as against 6,594 tractors sold in May 2020.

Domestic tractor sales in May 2021 were at 6,158 tractors as against 6,454 tractors in May 2020.  In the medium term, the company sees rural sentiment to be strong, on account of all positive macroeconomic factors viz. prediction of a good monsoon, high crop production and better support by Government on crop prices. Inflation continues unabated and remains a worry. Export tractor sales in May 2021 was at 265 tractors against 140 tractors sold in May 2020, registering a growth of 89.3%.

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.