Escorts Agri Machinery sold 10,074 tractors in March 2022

Escorts Agri Machinery (EAM) in March 2022 sold 10,074 tractors as against 12,337 tractors sold in March 2021, a drop of 18.3 percent year-on-year.

Domestic tractor sales in March 2022 was at 9,483 tractors as against 11,730 tractors in March 2021. Due to high base of last year and subdued commercial demand, the tractor industry wholesales continues to remain subdued in March 2022.

During next year, the tractor demand is expected to improve led by higher Rabi output, good level of water reservoirs, increased Union budget allocations to rural and agri sector coupled with favourable crop prices, and initial positive forecast of 2022 monsoon season as normal, all supporting rural customer sentiments. The rising inflation however continues to be an area of concern.

Export tractor sales in March 2022 was at 591 tractors against 607 tractors sold in March 2021.

Shares of Escorts Limited was last trading in BSE at Rs. 1691.40 as compared to the previous close of Rs. 1652.10. The total number of shares traded during the day was 63600 in over 4687 trades.

The stock hit an intraday high of Rs. 1750.00 and intraday low of 1640.00. The net turnover during the day was Rs. 107569301.00.

Source : Equity Bulls

Keywords

Escorts INE042A01014 AgriMachinery Tractors SalesVolume March2022 Exports DomesticSales