Escorts skids after NSE ban on F&O

Escorts declined 1.85% to Rs 103.60 at 14:46 IST on BSE after NSE barred building fresh positions in the company's derivatives contracts.
The BSE Sensex, meanwhile, was up 125 points or 0.8% to 15,569.
On BSE, 21.45 lakh shares were traded on the counter today. The scrip had an average daily volume of 2.86 lakh shares in the past one quarter.
Shares of small-cap tractor maker had hit a high of Rs 106.50 and a low of Rs 99.50 so far during the day. The stock had touched a 52 week high of Rs 157.10 on 7 February 2007 and a 52 week low of Rs 72.70 on 23 August 2007.
Escorts had outperformed the market over the last one month 5 September 2007, rising 15.99% compared to the Sensex’s rise of 3.44%. It had however underperformed the market over the past quarter, declining 6.88% compared to the Sensex’s gain of 8.88%.
From a recent low of Rs 73.10 on 23 August 2007 the scrip rose 44.39% to Rs 105.55 on 5 September 2007.
The company's current equity is Rs 80.08 crore. Face value per share is Rs 10.
National Stock Exchange said after trading hours on Wednesday, 5 September 2007, that it had barred fresh positions in the company's derivatives contracts as the open interest had crossed the 95% limit.
Escorts reported a net loss of Rs 6.24 crore in Q1 June 2007 as against net profit of Rs 1.57 crore in Q1 June 2006. Sales rose 7.7% to Rs 515.50 crore in Q1 June 2007 over Q1 June 2006.
Escorts manufactures tractor, agri-machinery, construction machinery, and auto-ancillaries.