Escorts surges 6% on healthy growth in January tractor sales

The stock rallied 6% to Rs 858, also its all-time high on BSE, after the company reported a healthy 45.6% jump in total sales at 5,316 units for the month of January 2018.

Escorts has rallied 6% to Rs 858, also its all-time high on BSE, after the company reported a healthy 45.6% jump in total sales at 5,316 units for the month of January 2018. The company had sold 3,652 units during the same month last year.

In December 2017, Escorts reported 13% growth in total sales at 3,606 units over the previous year.

“Escorts Agri Machinery Segment (EAM) in January 2018 sold 5,160 tractors in domestic market growth of 47.1% as against 3,507 tractors in January 2017,” Escorts said in a regulatory filing.

Export sales for the month of January 2018 at 156 tractors against 145 tractors in January 2017, it added.

The counter has seen huge trading volumes with a combined 2.13 million shares changed hands on BSE and NSE till 09:46 AM.