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Escorts Reported 52.34% rise in Quarter 3 Net Profit

Escorts Reported 52.34% rise in Dec 2018 quarter in Net Profit. Escorts reported a Net Profit of Rs 140.11 cr in Dec 2018. In Dec 2017 quarter the company had reported Rs 91.97 cr.

Due to Monsoon deficit in Southern and Western regions Escorts management has lowered FY 19 volume growth guidance for domestic Tractor Industry to 10-12%.

Technical Trend for Long Term Investing:

Escorts is likely to trade between Rs 500 to 750. Once it closes above Rs 765 on monthly basis, it could go up to Rs 950 and close below Rs 490 could further take it down.

Shareholding Pattern:

Rakesh Jhunjhunwala is holding 1,00,00,000 shares of Escorts (8.16%) as per Dec 2018 shareholding pattern.

Mutual Funds have reduced their holding in Dec 2018 quarter. They were holding 63,38,753 shares in Sep 2018 quarter as compared to 47,89,491.

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This post first appeared on Equity Portfolio Of Rakesh-Jhunjhunwala, please read the originial post: here

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Escorts Reported 52.34% rise in Quarter 3 Net Profit


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