Business Standard

Strong tractors sales to power Mahindra and Escorts growth; shares gain

Growth in current financial year is expected to be in high single-digits after record sales in FY18

tractors, agriculture, farmers
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tractors

Ram Prasad Sahu Mumbai
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

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