Escorts shares drop 8 pc post April sales data

Shares of farm equipment major Escorts Thursday plunged eight per cent after the company reported a 14.9 per cent decline in tractor sales in April. The scrip dropped 8.03 per cent to close at Rs 680.50 on the BSE. Intra-day, the stock plunged 8.49 per cent to Rs 677.05.

On the National Stock Exchange, shares tumbled 7.97 per cent to close at Rs 680 apiece. Markets were closed Wednesday on account of Maharashtra Day.

Escorts Wednesday reported a 14.9 per cent decline in tractor sales to 5,264 units in April. The company had sold 6,186 units in the corresponding month a year ago.

Domestic sales last month were down 18.2 per cent to 4,986 units as against 6,094 units in the year-ago period, it said.