Escorts Agri Machinery Volumes grew by 80.1% in August 2020

Escorts Ltd Agri Machinery Segment (EAM) in August 2020 sold 7,268 tractors, our highest ever August sales and registering a growth of 80.1 percent against 4,035 tractors sold in August 2019.

Domestic tractor sales in August 2020 was at 6,750 tractors registering a growth of 79.4% against 3,763 tractors in August 2019. The market sentiment continues to be highly positive with good monsoons, better Kharif sowing, crop prices holding up well, and good supply of retail finance. We remain optimistic for the coming festive months. The supply side situation improved significantly as compared to last month. We are currently operating close to peak capacity now. In August 2020 we could build some inventory both at dealer and depots, which since last few months was at very low levels.

Export tractor sales in August 2020 was at 518 tractors against 272 tractors sold in August 2019, registering a growth of 90.4%.

Shares of ESCORTS LTD. was last trading in BSE at Rs.1086.5 as compared to the previous close of Rs. 1141.5. The total number of shares traded during the day was 111595 in over 6292 trades.

The stock hit an intraday high of Rs. 1150 and intraday low of 1080.15. The net turnover during the day was Rs. 123627873.

Source : Equity Bulls

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