Escorts Agri Machinery Volumes grew by 88 percent in December 2020

Escorts Ltd Agri Machinery Segment (EAM) in December 2020 sold 7,733 tractors, our highest ever December sales and registering a growth of 88 percent against 4,114 tractors sold in December 2019.

Domestic tractor sales in December 2020 was at 7,230 tractors registering a growth of 90 percent against 3,806 tractors in December 2019. Post Lockdown, this is the first month where we could supply as per demand of customers, some of whom waited long to get their preferred tractor brand. Going forward all macroeconomic factors remain in favour of continued growth and we do not expect any significant supply-demand gaps. Rising Inflation, however, continues to be a worry.

Export tractor sales in December 2020 was at 503 tractors against 308 tractors sold in December 2019, registering a growth of 63.3 percent.".

Shares of ESCORTS LTD. was last trading in BSE at Rs.1265.7 as compared to the previous close of Rs. 1265. The total number of shares traded during the day was 51137 in over 2567 trades.

The stock hit an intraday high of Rs. 1274.75 and intraday low of 1245.45. The net turnover during the day was Rs. 64360500.

Source : Equity Bulls

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