Escorts hits new high as Co starts commercial production of Kubota tractors

Shares of Escorts rallied 7 per cent to Rs 1,284.45, also its record high on the BSE on Monday after the company announced the commissioning of manufacturing operations of a joint venture (JV) with Kubota Corporation on Friday, September 25, 2020.  The stock surpassed its previous high of Rs 1,280, touched on September 18, 2020.

In the JV, Escorts Kubota India Pvt Ltd, Kubota Corporation has 60 per cent ownership while the rest 40 per cent is with Escorts. The JV was set up with a total investment of around Rs 300 crore and has the capacity to manufacture 50,000 units