In Coronavirus, India, where shares of all the companies are falling, there is an Escorts stock whose shares have done wonders. Even during the Corona period, its shares showed such a high return stock that people were surprised.
During the Corona period, the shares of this company have risen slightly, but have risen to 109% in 3 months. That is, the shares of this company have doubled in just 3 months.
Escorts Group is an Indian multinational conglomerate and automotive engineering company that operates in the sectors of agri-machinery, construction and material handling equipment, and railway equipment. This auto company has given strong returns to its investors even during the Corona period.
The auto company, which manufactures trucks and tractors, has proved to be a boon for investors in the Corona era. The company's shares doubled between late March and June.
The company's stock was around Rs 542 during March, which closed at around Rs 1129 on 9 July. In about 3 months, the stock has given a return of around 109 per cent. Explain that at present the share of this company is at an all-time high.
There are many reasons why escort prices rise. One is the company's sales growth, due to which there was strong demand. On the other hand, the rural economy is the biggest reason for the boom in this company's shares.
The economy hit due to Corona did not affect the sales of the tractors, as agriculture was exempted even in lockdown. The increased demand for agricultural commodities led to an increase in the cell of escorts.
Speaking of sales in the month of June, sales increased by about 64.5 per cent this month compared to May, while sales grew by 21.2 per cent on a year-on-year basis. In June alone, the company sold 10,851 units.
