Rakesh Jhunjhunwala Buys Stake In This Automobile Stock In The June Qtr.: Check Details

Every quarter shareholding pattern for a stock has to be provided to the exchange and likewise for Escorts Kubota for the recent June ended quarter it has been revealed that ace investor Rakesh Jhunjhunwala has bought a stake of 1.39% in the tractors major for Rs. 316.5 crore. This is an addition of 18,30,388 shares in the company.

Rakesh Jhunjhunwala Buys Stake In This Automobile Stock In The June Qtr.: Check Details

In the previous quarter i.e. March 2022, Jhunjhunwala sold his most positions in the stock, reducing his stake to below 1%.

From the past year, the company's name has been changed to Escorts Kubota after Kubota increased its holding in the company to 44.8%.

Escorts Kubota is a mid-cap company engaged in manufacturing of engines for agricultural tractors, earth moving and material handling equipment, hydraulic shock absorbers, automobile shock absorbers, internal combustion engine etc. used by railways.

In the previous March ended quarter of Fy22, the company's total revenue from operations reduced sequentially to Rs. 1861.44 crore. Net profit though marginally increased sequentially to Rs. 202.17 crore.

The stock last closed at a price of Rs. 1710.75. In 1-year, the stock gained almost 47%.

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