Escorts Kubota Announces Increase in Price for Tractors from Next Month
Over the past two years, the stock of Escorts Kubota has witnessed a remarkable growth of 98%, while over three years, it has rallied by an impressive 168%. In the last year alone, the stock has seen a surge of 61.75%, albeit with a slight dip of 3% in the past six months.
Escorts Kubota, a leading tractor manufacturer, has revealed plans to increase the prices of its tractors effective May 1, 2024. The decision, aimed at addressing various factors impacting costs, has propelled the company's shares, which surged by 2.16% to reach Rs 3174.50 in early trading today compared to the previous close of Rs 3107.55. With a market capitalization of Rs 34,783 crore on the BSE, Escorts Kubota continues to make strides in the market.
Over the past two years, the stock of Escorts Kubota has witnessed a remarkable growth of 98%, while over three years, it has rallied by an impressive 168%. In the last year alone, the stock has seen a surge of 61.75%, albeit with a slight dip of 3% in the past six months.
Discussing the technical aspects, the relative strength index (RSI) of Escorts Kubota's stock stands at 66.1, indicating that it is currently trading within a balanced range, neither in the overbought nor oversold zone. Additionally, the stock is trading above various moving averages, including the 5-day, 10-day, 20-day, 50-day, 100-day, 150-day, and 200-day, indicating positive momentum in the market.
Escorts Kubota's shares opened higher at Rs 3119.95 today, reflecting the market's optimism towards the company's latest announcement. A total of 6305 shares changed hands, amounting to a turnover of Rs 1.98 crore on the BSE. Notably, the stock had reached a record high of Rs 3435.20 on October 11, 2023, showcasing its resilience and growth potential. Conversely, it had touched a 52-week low of Rs 1934.85 on April 27, 2023, underlining the volatility inherent in the market.
Mileen Vasudeo, an expert from Arihant Capital, shared insights on four key stocks, including Escorts Kubota, Pitti Engg, GMDC, and TVS Motor. Escorts Kubota's decision to increase prices aligns with the broader market trends and the need for adjustments to ensure sustainable growth and profitability.
The impending price hike by Escorts Kubota reflects the company's proactive approach to managing its operations amidst evolving market conditions. This move is expected to support the company's bottom line while allowing it to continue delivering quality products and services to its customers.
As the market awaits further developments, investors remain optimistic about Escorts Kubota's prospects, buoyed by its strategic decisions and strong performance in the tractor manufacturing sector.
