Farm equipment manufacturer Escorts Agri Machinery on Friday reported an 88 per cent jump in tractor sales at 7,733 units in December 2020
Bajaj Auto and Heidelberg Cement are showing a firm positive sentiment
Escorts said the market sentiment continues to be highly positive with good monsoons, better Kharif sowing, crop prices holding up well and good supply of retail finance
The company's management remains optimistic for the coming festive months
Gains in market share, margins, and new launches are already priced in
The company isThe company is banking on pent up demand to reflect in June-October period banking on pent up demand to reflect in June-October period
During first eight months of the financial year 2019-20 (FY20), Escorts had reported 7.3 per cent year-on-year (YoY) decline in total tractor sales at 59,324 units.
Growth and margin profile are expected to be strong in FY19 on rising rural demand, product mix and cost efficiencies
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.
Exports last month declined 9.7 per cent to 130 units