Escorts hits record high on heavy volumes

The stock moved higher to its record high of Rs 415, up 8% on the BSE

Escorts moved to its record high of Rs 415, up 8% on the BSE, on back of heavy volumes in otherwise weak market. The stock surpasses its previous high of Rs 414 touched on October 4, 2016 during intra-day trade.

At 03:04 pm; the stock was up 7% at Rs 411 as compared to 0.59% decline in the S&P BSE Sensex. The trading volumes on the counter more than doubled with a combined 5.60 million shares representing 4.6% of total equity of Escorts have changed hands on the NSE and BSE so far.

During the October-December (Q3FY17) quarter,