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Escorts Development Tools grew by 55 p.c in Might 2021

The Construction Equipment (ECE) segment of Escorts Ltd. sold 155 machines in May 2021 and recorded a growth of 55 percent compared to 100 machines sold in May 2020.

The industry was badly affected by the second wave of the COVID-19 pandemic, health concerns due to the violent spread, the shift in priority to the safety of yourself and family, poor collections and thus the availability of liquidity at various levels, what low lending and local lockdown restrictions in various states, all of which have had a major impact on the execution of the infrastructure work on site.

In the past few days, production has also been impacted by the shortage of certain critical items, including industrial oxygen. We are closely monitoring the situation on the ground and believe that, like last year, the industry could see some catching up to do after the monsoon season fueled by a strong recovery in the road and infrastructure sectors fueled by the liquidity injection from banks and NBFCs. The rise in raw material prices continues to cause concern.

Shares of ESCORTS LTD. was last traded in BSE at Rs.1171.6, compared to the previous closing price of Rs. 1162.05. The total number of stocks traded during the day was 83,705 in over 3883 trades.

The stock hit an intraday high of Rs. 1173.8 and an intraday low of 1154.95. Net sales during the day were Rs. 97682968.