Big Bull of the Indian stock market Rakesh Jhunjhunwala has added a total of 18,30,388 shares of Escorts Kubota Ltd which represents a stake of 1.39% in the company with an investment value of Rs 316.5 Crores as per the latest filing for the June quarter.
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Last quarter i.e, March 2022, the ace investor had offloaded all his shares of the company and his total holdings were below 1%.
Rakesh Jhunjhunwala has been holding this stock since December 2015. However, he gradually trimmed his stake from more than 10 per cent back then.
The shares of Escorts Kubota Ltd were down by 0.5% till 12:30 pm on Thursday and were trading at Rs 1,723. In the last five days, the stock has added approximately 6%. In the span of a month, the stock has zoomed by more than 14%.
Tractor maker Escorts changed the company name from “Escorts Limited” to “Escorts Kubota Limited” with effect from June 9, 2022, after Kubota Corporation increased its stake in the company to 44.8%.
A year ago the shares of Escorts Kubota were trading at Rs 1166 Levels. Since then it has scaled by more than 47% to trade at the current levels. It reached its 52-week high of Rs 1,934 in April this year.
Escorts Limited is an Indian multinational conglomerate that operates in agricultural machinery, construction machinery, material handling, and railway equipment. The company has operations in more than 40 countries.
In FY22, the company reported total revenue of Rs 7,238 Crores up from Rs 7,014 Crores in the year-ago period. Its net profit stood at Rs 764 Crores which was a decline from Rs 872 Crores which it earned in FY21.
Written by – Anoushka Roy
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