Escorts Limited allots 1,22,57,688 shares to Kubota Corporation, Japan

The board of directors ('Board') of Escorts Limited ('Company') on July 16, 2020, has approved the allotment of 1,22,57,688 equity shares on preferential basis for an aggregate consideration of INR 10,41,90,34,800 to Kubota Corporation, Japan.

The board has approved the appointment of Mr. Harish N. Salve as an Additional Independent Director for a period of 5 years subject to approval of the shareholders of the Company at the ensuing Annual General Meeting.

The board also approved appointment of Mr. Dai Watanabe as an Additional Director (Non-Executive Director) with effect from July 16, 2020 and Mr. Yuji Tomiyama as an Additional Director (Non-Executive Director) with effect from July 16, 2020.

Shares of ESCORTS LTD. was last trading in BSE at Rs.1107.35 as compared to the previous close of Rs. 1079.2. The total number of shares traded during the day was 193038 in over 6832 trades.

The stock hit an intraday high of Rs. 1129.4 and intraday low of 1078.2. The net turnover during the day was Rs. 214312981.

Source : Equity Bulls

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