Escorts shares surge as Japan’s Kubota announces increase in shareholding

Shares of Escorts were trading over 8% higher on the BSE in Thursday’s early deals, witnessing a sharp surge after Japan’s Kubota announced that it will increase its shareholding in India’s leading tractor manufacturing company.

Kubota Corporation announced that Kubota and Escorts Limited (EL) have reached an agreement under which Kubota will increase its shareholding in EL by means of subscription to third-party preferential primary share allotment and open offer bid.

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