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Escorts share price rises 10% on strong February sales

Following the update, Escorts share price rose 5.11% today. It later gained 10.7% and touched an intraday high of Rs 863.75, as against the last closing value of Rs 780.10.

twitter-logoBusinessToday.In | March 2, 2020 | Updated 12:52 IST
Escorts share price rises 10% on strong February sales
Escorts stock has gained after 7 days of consecutive fall

Shares of Escorts were trading as top gainer on BSE, rising over 10% after the commercial vehicle company announced that it's agri machinery volume rose 18.8% yearly in February 2020.

As per company's regulatory filing, agri machinery segment (EAM) in February 2020 sold 8,601 tractors registering a growth of 18.8% against 7,240 tractors sold in February 2019.

Following the update, Escorts share price rose 5.11% today. It later gained 10.7% and touched an intraday high of Rs 863.75, as against the last closing value of Rs 780.10.

Escorts stock has gained after 7 days of consecutive fall.

Escorts stock price trades higher than its 5, 20, 50, 100 and 200-day moving averages. Escorts has moved above its 30-day simple moving average today. Volume-wise, 2.2 lakh and 48.44 lakh share are changing hands on BSE and NSE counters, both above 5,10 and 30-day volume average.  

The filing added that company's domestic tractor sales in February 2020 stood at 8,049 tractors, registering a growth of 16.3% against 6,918 tractors in February 2019.

Exports for February 2020 were recorded at 552 tractors, registering a growth of 71.4% against 322 tractors sold in February 2019, the filing added.

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