The total consideration would aggregate to Rs 4,19.28 crore at a price of Rs 84.00 per share for 49,914,664 shares for 25.12% stake in SKSSL.
Net sales went up by 17% to Rs 3,435 crore in the quarter under review. Earnings before interest, tax, depreciation and amortization (Ebitda) stood at Rs 537 crore.
The company's domestic sales stood at 1,33,934 units, up 25.9 per cent from 1,06,383 in January last year, MSI said in a statement.
"The cash crunch impacted demand and tractor sales in the industry dropped around 14% in November," said Shenu Agarwal, chief sales and marketing officer, Escorts Limited.
The company's next target is to reach the 1-million mark in India as soon as possible.
Total income from operations during the period under review increased by 8.18% to Rs 4,723.58 crore as against Rs 4,366.35 crore in the year-ago quarter.
In the quarter under review, Maruti Suzuki’s net sales went up by 12.4 per cent to 16,623.6 crore. Vehicle sales in the period grew by 3.5 per cent to 3,87,251 units.
They come from high income families and reside mostly in metroes. The company said that bike is designed for multiple uses, both for commuter and leisure purposes.
The balance shareholding will be with European Bank for Reconstruction and Development (18.7 per cent) and the founding Turker family (6.2 per cent).
Vivek Srivastava, senior GM (marketing), passenger vehicle business unit, Tata Motors said 60% bookings are for the automatic version.
- No blogs yet have been written by the author, we’re sure the author will contribute one soon