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Shares of tractor and construction equipment manufacturer Escorts closed 7.79% higher at Rs 135.60 on the Bombay Stock Exchange after investor Rakesh Jhunjhunwala increased his stake in the company to 8.14% in the quarter ended March 31, 2015.
During the previous quarter Jhunjhunwala bought 3.27 million shares of Escort thereby raising his stake by 2.67% as compared to the quarter ended December 31, 2014 when his stake stood at 5.47%, as per share holding pattern disclosures made by Escorts.
Jhunjhunwala remains the largest non-promoter shareholder in the Faridabad-based Escorts with a total holding of 9.97 million shares.
Investor Goldman Sachs India Fund also bought 2.64 million shares of the company translating to a stake of 2.16%.
