Escorts share price rises 3% on strong December sales number
Export tractor sales in December 2020 was at 503 against 308 sold in December 2019, registering a growth of 63.3 percent.
January 01, 2021 / 09:37 AM IST
Escorts share price added more than 3 percent in early trade on January 1 after the company reported strong sales for the month of December 2020.
Escorts Agri Machinery Segment (EAM) in December 2020 sold 7,733 tractors, the highest ever December sales and registering a growth of 88 percent against 4,114 tractors sold in December 2019, company said in the release.
Domestic tractor sales in December 2020 was at 7,230 tractors registering a growth of 90 percent against 3,806 tractors in December 2019.
Post-lockdown, this is the first month where we could supply as per the demand of customers, some of whom waited long to get their preferred tractor brand, company added.
Going forward all macroeconomic factors remain in favour of continued growth and we do not expect any significant supply-demand gaps. Rising Inflation, however, continues to be a worry, it added.
Export tractor sales in December 2020 was at 503 tractors against 308 tractors sold in December 2019, registering a growth of 63.3 percent.
At 09:20 hrs Escorts was quoting at Rs 1,305.10, up Rs 44.70, or 3.55 percent on the BSE.
The share touched its 52-week high Rs 1,452.85 and 52-week low Rs 527.10 on 04 December, 2020 and 19 March, 2020, respectively.
Currently, it is trading 10.17 percent below its 52-week high and 147.6 percent above its 52-week low.