Shares of Escorts Ltd. hit its highest in more than four years
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Escorts Ltd., a mid-sized tractor and On August 24th, Greater India Portfolio bought more than 6.60 lakh shares in Escorts for a price of 154.41 rupees on the NSE, totalling 10.19 crore rupees.
On August 11th, well known investor Rakesh Jhunjhunwala purchased an additional 625,000 shares in Escorts at a price of 155 rupees each, totalling 9.68 crore rupees.
Mr. Jhunjhunwala has been a long-term investor in the coming, buying the stock from sub-100 rupee levels.
As a consequence, Escorts surged 9.20 rupees, or 5.5 percent, to 176.40 rupees on National Stock Exchange, where 30 lakh shares were traded versus the 5-day average of 29.88 lakh shares.
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Escorts has seen is market capitalisation rise 55 percent in the past one year to 2,176 crore rupees. The stock, a traders' favourite, is quoting at 1.2 times its book value of 146.8 rupees.
Image credit: st-marys-morecambe
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