ESCORTS hits New 52 Week High

ESCORTS share price rose sharply by 17% and was trading at Rs. 304.00 after the company disclosed divestment of its OEM & export business of auto product division to Badve Engineering, Pune in an all cash deal. The stock saw a spurt in volume by more than 7.85 times.

According to ESCORTS,this is as a part of the outlined strategic reorientation of the business to concentrate on core verticals in the agri-machinery, railway equipment and construction equipment. The auto products business constitutes a comprehensive product basket catering to OEMs and replacement market in India and overseas markets for all vehicle categories which include scooters, motorcycle, passenger cars, multi-utility vehicles and commercial vehicles.

ESCORTS share price closed at Rs. 305.00 at an increase of 44points while the stock opened at Rs. 260.95 against its previous closing at Rs. 260.00. Approximately 2.58 million shares changed hands on the counter on both BSE and NSE.

Sneak Peek on Stocks:

ESCORTS share price touched its intraday high and low at Rs. 312.00 and Rs. 255.50 respectively. On this very day the stock traded at its new 52 week high at Rs. 312.00.On the other hand the 52 week low is seen at Rs.112.80 on 12th Feb ’16. The scrip has a market cap amounting to Rs. 3069.33 (Cr). The stock has been analyzed as a multibagger stock for the month by Dynamic Levels.

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