Escorts Agri Machinery reports 33 percent growth in November 2020 sales

Escorts Ltd Agri Machinery Segment (EAM) in November 2020 sold 10,165 tractors, our highest ever November sales and registering a growth of 33 percent against 7,642 tractors sold in November 2019.

Domestic tractor sales in November was at 9,662 tractors registering a growth of 30.9% against 7,379 tractors in November 2019. The dealer and depot stocks continue to be low. Stock correction in the coming months would continue to push the industry upwards, supported by healthy water reservoir levels and a good harvest. The supply chain still is volatile but should improve going forward. We have taken a price increase this month to pass on the inflation in the commodity prices.

Export tractor sales in November 2020 was at 503 tractors against 263 tractors exported in November 2019, registering a growth of 91.3%.

Shares of ESCORTS LTD. was last trading in BSE at Rs.1402.65 as compared to the previous close of Rs. 1388.15. The total number of shares traded during the day was 60962 in over 4425 trades.

The stock hit an intraday high of Rs. 1422 and intraday low of 1382.8. The net turnover during the day was Rs. 85506492.

Source : Equity Bulls

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