Share prices of Mahindra and Mahindra (M&M) and Escorts gained up to three per cent, as both the tractor makers ended FY18 on a strong note, growing their domestic tractor volumes by over 50 per cent each.
Escorts’ tractor sales doubled in February and grew 65 per cent year-on-year in March. M&M’s tractor sales were up 50 per cent over the year-ago period and 38 per cent on a sequential basis.
Strong demand for tractors was led by positive rural sentiment, higher rabi production and new model launches over the past couple of months.
Given the 20
Escorts’ tractor sales doubled in February and grew 65 per cent year-on-year in March. M&M’s tractor sales were up 50 per cent over the year-ago period and 38 per cent on a sequential basis.
Strong demand for tractors was led by positive rural sentiment, higher rabi production and new model launches over the past couple of months.
Given the 20
