Explorer

Rakesh Jhunjhunwala Offloads Stake In Escorts, Stock Price Slips: Report

Jhunjhunwala held 75 lakh equity shares, (5.68%), in the firm as of December 31, 2022. His name is now missing from the list of individual shareholders, who own 1% or more, according to sources

New Delhi: Share price of tractor maker, Escorts, was down over 3 per cent in the afternoon trade on Tuesday (April 12), a day after ace investor Rakesh Jhunjhunwala sold his stake in the tractor manufacturer, according to news report.

According to sources, Jhunjhunwala held 75 lakh equity shares, or 5.68 per cent stake, in the company as of December 31, 2022. His name is now missing from the list of individual shareholders, who own 1 per cent or more, Escorts’s shareholding pattern for Q4FY22 shows.

This means the Big Bull, who has held the stock since December 2015, booked profit during the January-March period.

ALSO READ | Sensex Tanks 521 Points, Nifty Trades Below 17,500 Amid Weak Global Cues

The stock has been under pressure with the price falling more than 17 percent in the last five days. At 13.08 pm, the scrip was trading at Rs 1,544.05, down Rs 56.60, or 3.54 per cent on NSE. It touched an intraday high of Rs 1,607.45 and an intraday low of Rs 1,543.

Escorts' quarterly net profit came in at Rs 194.19 crore in December 2021, down 32.27 per cent from Rs. 286.71 crore in December 2020.

Earnings before interest, taxes, depreciation, and amortization (Ebitda) was reported at Rs 305.23 crore in December 2021, down 25.84 per cent from Rs. 411.59 crore in December 2020. Its EPS decreased to Rs 19.74 in December 2021 from Rs 29.21 in December 2020.

At 2.45 pm, Escorts' shares have slided further and were trading at Rs 1,544, down 3.51 per cent. 

Meanwhile, Tata Consultancy Services (TCS) shares eased 1 per cent in opening deals, but recouped losses quickly to trade half a per cent higher later. The company, on Monday, reported a 7 per cent rise in consolidated net profit to Rs 9,926 crore and consolidated revenue of Rs 50,591 crore in the quarter under review. It also reported its highest-ever order book and crossed the revenue milestone of Rs 50,000 crore in a quarter.  

View More
Advertisement
Advertisement
25°C
New Delhi
Rain: 100mm
Humidity: 97%
Wind: WNW 47km/h
See Today's Weather
powered by
Accu Weather
Advertisement

Top Headlines

'Good That Truth Is Coming Out': PM Modi Praises Vikrant Massey's Film The Sabarmati Report
'Good That Truth Is Coming Out': PM Modi Praises Vikrant Massey's Film The Sabarmati Report
Kailash Gahlot Resignation: AAP Blames BJP’s ‘Vile Politics’, Delhi Congress Questions Kejriwal’s Silence
Kailash Gahlot Resignation: AAP Blames BJP’s ‘Vile Politics’, Delhi Congress Questions Kejriwal’s Silence
At Least 20 Injured In Gas Cylinder Blast In MP's Chhatarpur
At Least 20 Injured In Gas Cylinder Blast In MP's Chhatarpur
Manipur Violence: Mob Tries To Storm CM Biren Singh's House, Rahul Asks PM Modi To Visit State | Top Points
Manipur Violence: Mob Tries To Storm CM Biren Singh's House, Rahul Asks PM Modi To Visit State | Top Points
Advertisement
ABP Premium

Videos

Breaking News: DRDO Successfully Tests Long-Range Hypersonic Missile | ABP NewsRift Erupts in BJP Over CM Yogi and PM Modi's Slogans | ABP News'I'm the CEO of Lashkar-e-Taiba,' The Reserve Bank of India Receives Threatening Call | ABP NewsChaos Erupts at Navneet Rana's Rally As Chairs Thrown, Protests and Slogans | ABP News

Photo Gallery

Embed widget