Escorts announces open offer schedule; shares zoom 3%, hit new high

The stock hit a new high of Rs 1,874, and has appreciated 15% in the past six trading days

Shares of Escorts hit a new high of Rs 1,874, up 3 per cent on the BSE in Friday's intra-day trade, in an otherwise weak market after the company announced open offer schedule for stake purchase by Kubota.

Morgan Stanley India Company Private Limited, the manager to the open offer in public announcement said that commencement of the tendering shares period will open on January 11, 2022 and will close on January 24, 2022. CLICK HERE FOR DETAILS

Last week, on November 18, 2021, Escorts' board had announced that Kubota will acquire 46.9 million additional