Restructuring and volume gains in FY17 should reflect in margins and net profit
Takes over Sonalika in July
Shares of farm equipment maker Escorts on Thursday zoomed about 17 per cent, after the company announced divestment of its OEM and export business of auto product division to Pune's Badve Engineering.
The stock moved higher by 5% to Rs 273, recovering 7% from intra-day low on the BSE.
Posts Rs 47 crore profit; turnover increases 9.3% to Rs 1,051 crore
The stock rallied 11% to Rs 202 on the BSE in early morning trade on back of heavy volumes.
Domestic sales during the month were declined 3.9% to 3,190 units