Escorts Limited is now Escorts Kubota Limited
Escorts Limited (“Escorts” or “Company”) has received the required approvals for the change of name of the Company from “Escorts Limited” to “Escorts Kubota Limited” effective June 9, 2022.
Escorts and Kubota Corporation, Japan (“Kubota”) had decided to strengthen their partnership in line with their vision of global leadership in agricultural mechanization and the spread of agricultural prosperity. Kubota increased its stake in Escorts to 44.8% by subscribing for new shares. shares and through an open offer to the public shareholders of Escorts and also becoming a co-promoter of the company with the existing promoters, the Nanda family, whose shareholding in the company remains unchanged and Mr. Nikhil Nanda continues to be the President and Chief Executive Officer (OGM) of the Company.
According to Mr. Nikhil Nanda, CMD, Escorts Kubota Limited, “Our partnership with Kubota in Escorts Kubota Limited has been well received by all our stakeholders and investors. Hence, the process was smooth. We are now well placed at a very interesting time in world history to contribute to much higher levels to India and the global quest for food security, sustainable agriculture and smart agriculture.
Mr. Yuichi Kitao, President and Representative Manager, Kubota, Japan, said, “We are very pleased to partner with Escorts Kubota Limited at a time when we can combine our strengths to provide advanced agricultural mechanization solutions to meet global food security and farm improvement. productivity needs.”
Shares of Escorts Limited last traded on the BSE at Rs. 1597.50 from the previous close of Rs. 1603.80. The total number of shares traded during the day was 11,461 in over 1,277 trades.
The stock hit an intraday high of Rs. 1631.00 and intraday low of 1579.25. Net turnover during the day was Rs. 18361052.00.
Source: Stock market bulls