The multinational company’s shares rose by 6 percent in Monday’s trading session. At 11.56 IST, the firm’s stocks were trading at 955.90, up 6,454 units of domestic tractor sales for May.
Earlier, the company sold 6,488 units in the domestic market in the same month last fiscal. In addition, this is the fourth day in a row that the firm’s stakes are at a high. Over the past month, the company’s shares have rallied 32 percent against a 1.3 percent decline in the S&P BSE Sensex.
The company’s exports in May 2020 remained at 140 tractors compared to the sale of 339 tractors last year. Moreover, facing a down by 58.7 percent Year-on-Year.
Besides, the multinational recorded a 9.71 percent rise in its consolidated net profit to Rs 127.73 crore in the fourth quarter ended in March. Similarly, this was against the net profit in the same quarter last year which was at Rs 1385.65 crore. Although, this year the net sales faced a fall by 15.97 percent.
The Escorts Group is an Indian multinational automotive engineering company that functions in the sectors such as Agri-machinery, construction, and railway equipment.
