Escorts gains despite subsidiary reporting 6.36% fall in May 2014 sales

Escorts is currently trading at Rs. 128.70, up by 0.95 points or 0.74 % from its previous closing of Rs. 127.75 on the BSE. The scrip opened at Rs. 128.40 and has touched a high and low of Rs. 129.50 and Rs. 126.60 respectively. So far 139272 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 145.15 on 26-Dec-2013 and a 52 week low of Rs. 64.80 on 05-Aug-2013. Last one week high and low of the scrip stood at Rs. 132.50 and Rs. 120.70 respectively. The current market cap of the company is Rs. 1570.82 crore. The promoters holding in the company stood at 41.97 % while Institutions and Non-Institutions held 9.06 % and 48.97 % respectively. Escorts agri machinery segment (EAM), a subsidiary of Escorts, sold 5794 tractors in May 2014, down by 6.36% against 6188 tractors sold in May 2013. Domestic tractor sales in May 2014 stood at 5704 as against 6122 tractors in May 2013, a fall of 6.82% over last year. However, export for the month of May 2014 surged 36.36% to 90 tractors as that of 66 tractors in May 2013. Escorts offer a comprehensive range of tractors with more than 45 variants starting from 25 to 80 HP. The company also manufactures and markets a diverse range of equipments like cranes, loaders, vibratory rollers and forklifts.