Escorts zooms 9% on strong February sales; stock up 28% in 2020 so far

Shares of Escorts surged over 9 per cent to Rs 852.95 on the BSE on Monday after the tractor manufacturing company reported strong sales numbers for February.

Escorts announced that its agri machinery segment (EAM) sold 8,601 tractors in February, an 18.8 per cent growth against 7,240 tractors sold in February 2019. Domestic tractor sales stood at 8,049 tractors, up 16.3 per cent against 6,918 tractors in the same month last fiscal, the company said in a filing to the BSE. The company exported 552 tractors in February, up 71.4 per cent on a year-on-year basis. READ