Escorts hits new high

The stock was up 4% at Rs 478 after the company recorded 29.5% growth in tractor sales in February

Escorts hit new high of Rs 478, up 4.4% on the BSE in intra-day trade after the company’s Agri Machinery Segment (EAM) in February 2017, sold 4,247 tractors, with a growth of 29.5% against 3,280 tractors in February 2016.

The tractor sales growth was highest in past four months in percentage terms. Earlier in October 2016, EMA volumes grew by 53% to 8,970 units.

“The company’s domestic sales is up by 28.7% at 4,104 units versus 3,190 units year on year (YoY) while, export sales up 59% at 143 tractors against 90 tractors in February 2016,” Escorts said