Escorts Agri Machinery sold 6,423 tractors in May 2021

Escorts Ltd Agri Machinery Segment (EAM) in May 2021 sold 6,423 against 6,594 tractors sold in May 2020.

Domestic tractor sales in May 2021 was at 6,158 tractors as against 6,454 tractors in May 2020. Our country is going through some tough times and slowdown in demand is seen due to impact of COVID-19 in the rural parts impairing movement of customers and smooth operations of our dealerships. The ground situation has somewhat eased in the last few days of the month, and we expect return to normalcy soon. In the medium term, we see rural sentiment to be strong, on account of all positive macroeconomic factors viz. prediction of a good monsoon, high crop production and better support by Government on crop prices. Inflation continues unabated and remains a worry.

Export tractor sales in May 2021 was at 265 tractors against 140 tractors sold in May 2020, registering a growth of 89.3%."

The farmers of our country have shown utmost courage and have worked hard during the pandemic ensuring all of us have food on our plates. It is our moral duty to reciprocate to the farming community with actions supporting their well-being. Under a program titled 'Escorts Covid Kavach' we have announced several Covid-19 relief measures for our customers, including insurance coverage for hospitalization and home treatment expenses. We hope our collective efforts will help our country overcome this crisis soon.

Shares of ESCORTS LTD. was last trading in BSE at Rs.1171.6 as compared to the previous close of Rs. 1162.05. The total number of shares traded during the day was 83705 in over 3883 trades.

The stock hit an intraday high of Rs. 1173.8 and intraday low of 1154.95. The net turnover during the day was Rs. 97682968.

Source : Equity Bulls

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