Stock Market Live Updates: Sensex, Nifty open in red; Bajaj stocks gain
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Share Market Highlights 07 November 2023: Sensex, Nifty end marginally in red; Hero MotoCorp, Bajaj Finance among top losers
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Tractor sales grow in single digits in July and exports up sequentially
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Indian engineering conglomerate Escorts expects sustainable growth in its three core businesses for the rest of the year with its 16-17% margin forecast for the railway sector viewed as sustainable, according to CFO Bharat Madan. While it may not achieve the 20% margin seen in Q1 due to varying product mixes, expansion of demand will push growth next year. Mid-single digit growth is predicted for both the tractor and domestic industries, although subdued demand will continue in overseas markets due to general recessionary conditions.