Escorts Agri Machinery reports 9.2 percent growth in September 2020 sales

Escorts Agri Machinery reports 9.2 percent growth in September 2020 salesEscorts Ltd Agri Machinery Segment (EAM) in September 2020 sold 11,851 tractors, our highest ever September sales and registering a growth of 9.2 percent against 10,855 tractors sold in September 2019.

Domestic tractor sales in September was at 11,453 tractors registering a growth of 8.9% against 10,521 tractors in September 2019. The rural demand continues to remain positive led by lower base of last year, pent-up demand from Covid-19 related lockdowns, and fundamentally positive macroeconomic factors. Timely and widespread monsoon, record Rabi crop production, early Kharif sowing, and good availability of retail finance have helped drive positive farmer sentiment. While currently operating close to our peak capacity, we are trying to further ramp up production and supply to meet the excess demand. We remain optimistic for the coming festive season.

Export tractor sales in September 2020 was at 398 tractors against 334 tractors exported in September 2019, registering a growth of 19.2%.

Shares of ESCORTS LTD. was last trading in BSE at Rs.1321.95 as compared to the previous close of Rs. 1313.05. The total number of shares traded during the day was 90488 in over 3137 trades.

The stock hit an intraday high of Rs. 1342.7 and intraday low of 1307.2. The net turnover during the day was Rs. 119593513.

Source : Equity Bulls

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