Escorts Construction Equipment grew by 55 percent in May 2021

Escorts Ltd. Construction Equipment Segment (ECE) in May 2021 sold 155 machines and registering a growth of 55 percent against 100 machines sold in May 2020.

The Industry was majorly impacted due second wave of COVID 19 pandemic, health concerns due to ferocious spread, shifting priority to safety of self & family, poor collections & hence availability of liquidity at various levels leading to low lending and local lockdown restrictions in different states, all this has severely impacted on-ground execution of infrastructure work.

In last few days Production is also adversely impacted due to the shortage of certain critical items, including industrial oxygen. We are watching the on-ground situation closely and believe that like last year, going forward industry may see a pent-up demand post monsoon season lead by strong rebound in the road and infra sector fueled by liquidity infusion by banks and NBFCs. Commodity price rise continues to be worry.

Shares of ESCORTS LTD. was last trading in BSE at Rs.1171.6 as compared to the previous close of Rs. 1162.05. The total number of shares traded during the day was 83705 in over 3883 trades.

The stock hit an intraday high of Rs. 1173.8 and intraday low of 1154.95. The net turnover during the day was Rs. 97682968.

Source : Equity Bulls

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