Escorts Construction Equipment reports 21.1% YoY drop in sales during January 2022

Escorts Ltd. Construction Equipment Segment (ECE) in January 2022 sold 375 machines against 475 machines sold in January 2021, a drop of 21.1 percent year-on-year.

Construction equipment industry during January 2022 has faced short term challenges due to COVID-19 related restrictions, coupled with low rental rates, impacting retails largely in high volume low end segment.

Going forward, we expect demand to trigger led by various proposed government initiatives for developing worldclass infrastructure in the country at an accelerated pace, using modern technologies and equipment.

Shares of Escorts Limited was last trading in BSE at Rs. 1847.20 as compared to the previous close of Rs. 1836.70. The total number of shares traded during the day was 12426 in over 1671 trades.

The stock hit an intraday high of Rs. 1856.00 and intraday low of 1833.30. The net turnover during the day was Rs. 22958354.00.

Source : Equity Bulls

Keywords

Escorts INE042A01014 ConstructionEquipment SalesVolume January2022