Shares of Escorts Kubota Ltd gained nearly 3% on Tuesday, closing at ₹2,947 on the BSE, after HDFC Mutual Fund (HDFC MF) increased its stake in the company beyond 5%. The fund acquired an additional 5.04 lakh shares, representing a 0.45% equity stake, on February 27.
The move signals strong institutional confidence in the company, which is a key player in agricultural machinery, construction equipment, material handling, and railway technology.
Escorts Kubota is well known for manufacturing tractors, automotive components, and other machinery that serve the farming, construction, and railway sectors.
The stock hit an intraday high of ₹2,957.05 before settling at ₹2,947, reflecting positive investor sentiment following the stake increase by HDFC MF.
Also read: Escorts Kubota Q3 Results | Net profit up by 9% to ₹323 crore, declares ₹10 dividend
Earlier today, shares of Granules India Ltd. surged nearly 3%, reaching an intraday high of ₹474.74, after Life Insurance Corporation of India (LIC) raised its stake in the pharmaceutical company to 5.02%.
The state-owned insurance giant acquired an additional 17.83 lakh shares between January 1 and March 3, increasing its holding from 4.26% as of December.
