Escorts Kubota: Agriculture and construction equipment company Escorts Kubota Ltd will sell its railway equipment business division to BLW Precision Forgings Ltd for Rs 1,600 crore. Escorts Kubota Limited (EKL) said in a stock exchange filing on Wednesday that the company has entered into a business transfer agreement with Sona BLW Precision Forgings Limited (Sona Comstar) to transfer the entire business related to railway equipment.
what are the details
The transaction is being done for a lump sum cash consideration of Rs 1,600 crore, subject to the terms of the agreement, it said. On the rationale behind the sale, EKL said it has decided to sell RED in line with its strategic focus on the agriculture and construction equipment sectors. Nikhil Nanda, Chairman and Managing Director, EKL, said, “With a renewed focus on core business areas, EKL aims to maximize value for stakeholders and strengthen its position as a leader in the agriculture and construction equipment industry. Is.”
Also read: Share worth ₹ 17, profit of ₹ 8.92 crore, revenue of ₹ 276 crore, company has distributed 4 shares. Also read: ₹ 6300 crore came from abroad, company will reduce debt, loot of buying shares, price at ₹ 82.
Status of company’s shares
Shares of Escorts Kubota Limited closed at Rs 3,700 with a slight rise on Wednesday. This year so far this stock has risen by 25% and by 18% in a year. The company’s shares have seen a rise of up to 500% in the last five years. The 52 week high price of the company’s shares is Rs 4,422 and the 52 week low price is Rs 2,647.45. The market cap of the company is Rs 41,424.42 crore.
