Escorts Kubota Surges To Record High As Mid-Term Guidance Buoys Investors
NDTV
Escorts Kubota: The stock breached the previous record high by steadily rising most of the trading on Monday as investor sentiment was buoyed by its growth plans.
Shares of Escorts Kubota rose to a record high of 2,206.15 on BSE today after the company unveiled its business guidance plan for the medium-term.
The stock breached the previous record high by steadily rising most of the trading today as investor sentiment was buoyed by its growth plans. The stock, however, pared some of its gains to end the day at Rs 2,186, up 7.59 per cent from its Friday's close.
The mid-term plan, as unveiled by the tractor manufacturer, in a recent analysts call, guides for 2.5 times growth in revenue from the FY 2022 (Financial Year) level. The revenue stood at Rs 7,152.68 as of FY 2021. For the second quarter of this financial year, the company reported a net profit of Rs 87.66 on a revenue of Rs 1,883.48 crore.
The mid-term business plan also aims to invest up to 5 per cent of net profit in Research and Development.
