Escorts Agri Machinery Volumes grew by 21.1 percent in June 2020

Escorts Ltd Agri Machinery Segment (EAM) in June 2020 sold 10,851 tractors registering a growth of 21.1 percent against 8,960 tractors sold in June 2019.

Domestic tractor sales in June 2020 at 10,623 tractors registering a growth of 22.8 percent against 8,648 tractors in June 2019. "We have seen unprecedented demand in this month. The industry is expected to grow significantly backed by pent-up demand of the lockdown period, better farmer sentiment due to good monsoon prediction reflected in better than normal Kharif sowing, better rural cash flows owing to record crop output and crop prices, and reasonably good availability of retail finance. The industry growth is widespread with positive growth in almost all markets barring one or two. Our inventory levels, both with the company and with channel have been lowest ever. After necessary permissions, we were able to run our factories in multiple shifts to achieve production at about 90% of the capacity. Supply chain situation, though better than before, continues to remain volatile."

Export tractor sales in June 2020 at 228 tractors against 312 tractors sold in June 2019.

Shares of ESCORTS LTD. was last trading in BSE at Rs.1040.25 as compared to the previous close of Rs. 1033.6. The total number of shares traded during the day was 149352 in over 5343 trades.

The stock hit an intraday high of Rs. 1061.05 and intraday low of 1032.1. The net turnover during the day was Rs. 156341827.

Source : Equity Bulls

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