Rakesh Jhunjhunwala has increased his stake in Escorts to 8.14% in the quarter ended March 31, 2015.During the previous quarter Jhunjhunwala bought 3.27 million shares of Escorts thereby raising his stake by 2.67% as compared to the quarter ended December 31, 2014 when his stake stood at 5.47%.
Jhunjhunwala remains the largest non-promoter shareholder in the Faridabad-based Escorts with a total holding of 9.97 million shares.
Moreover, investor Goldman Sachs India Fund also bought 2.64 million shares of the company translating to a stake of 2.16%.
Escorts offer a comprehensive range of tractors with more than 45 variants starting from 25 to 80 HP. The company also manufactures and markets a diverse range of equipments like cranes, loaders, vibratory rollers and forklifts.
