Escorts tumbled 3.79% to Rs 123.10 at 11:10 IST on BSE, extending Thursday's 6.61% fall triggered by the company's agri machinery segment reporting 3.84% decline in total tractor sales to 3,852 units in December 2013 over December 2012.
The company made the announcement during trading hours on Thursday, 2 January 2014. The stock declined 6.61% to Rs 127.95 on Thursday. The stock has fallen 10.15% in two trading sessions from Rs 137 on 1 January 2014.
Meanwhile, the BSE Sensex was down 104.30 points, or 0.50%, to 20,784.03.
On BSE, so far 3.18 lakh shares were traded in the counter, compared with an average volume of 6.60 lakh shares in the past one quarter.
The stock hit a high of Rs 127.50 and a low of Rs 122.60 so far during the day. The stock hit a 52-week high of Rs 145.15 on 26 December 2013. The stock hit a 52-week low of Rs 48.35 on 28 March 2013.
The stock had outperformed the market over the past one month till 2 January 2014, rising 11.16% compared with the Sensex's 0.05% fall. The scrip had also outperformed the market in past one quarter, gaining 46.31% as against Sensex's 7.03% rise.
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The small-cap company has an equity capital of Rs 122.58 crore. Face value per share is Rs 10.
Escorts Agri Machinery (EAM) segment sold 3,852 tractors in December 2013, as against 4,006 tractors in December 2012.
EAM's domestic tractor sales fell 4.49% to 3,809 units in December 2013 over December 2012. Exports surged 138.89% to 43 units in December 2013 over December 2012.
Escorts' net profit surged 131.1% to Rs 43.63 crore on 14.8% increase in net sales to Rs 939.97 crore in Q4 September 2013 over Q4 September 2012.
Escorts is a leading engineering conglomerates with presence across the high growth sectors of agri-machinery, construction & material handling equipment; railway equipment and auto components. The company has diversified business in to four different segments. Escorts Agri Machinery (EAM), Escorts Construction Equipment (ECE), Escorts Railway Products (ERP) and Escorts Auto Products (EAP).
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