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Ace Investor: The Big Bull of Indian market has added this tractor company to his portfolio!
Last Updated: 13th December 2022 - 11:28 pm
Rakesh Jhunjhunwala has bought a stake in Escorts Kubota.
As per the latest shareholding pattern of Escorts Kubota for the quarter ended in June 2022, Rakesh Jhunjhunwala holds 18,30,388 shares or 1.39% of the total paid-up capital of Escorts Kubota Ltd. However, the name of the Big Bull was missing from the list of individual shareholders of the company for the quarter which ended on March 2022. This denotes that this Ace Investor has bought a fresh stake in this auto company from April to June 2022.
Escorts Kubota is one of India’s leading engineering conglomerates with a presence across key sectors of agriculture, infrastructure, and railways. The company is operating in the high-growth sectors of Agri Machinery, Material Handling, Construction Equipment, and Railway Equipment.
In June 2022, Escorts Kubota Limited Agri Machinery Segment (EAM) sold 10,051 tractors as against 12,533 tractors sold in June 2021. Domestic tractor sales in June 2022 were at 9,265 tractors as against 11,956 tractors sold in June 2021. Industry wholesales were impacted during the month of June 2022 due to the high base of the previous year. With the arrival of monsoon, and likely record Kharif crop production, rural liquidity and farmer sentiments are expected to improvise. Export tractor sales in June 2022 were at 786 tractors against 577 tractors sold in June 2021, registering a growth of 36.2%.
In the past year, the shares of this S&P BSE 500 Company have surged from Rs 1167.95 on 22 July 2021 to Rs 1702.60 on 21 July 2022, registering a gain of 45.77%. The stock has a 52-week high of Rs 1930 and a 52-week low of 1128.40 on BSE.
On 22 July the scrip ended at Rs 1702.60, a decline of 1.77% on BSE.
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