VST Tillers Tractors share price hits 52-week high on distributorship agreement with ETGL Africa
The objective behind the distribution model of VST Tillers Tractors in ETGL’s portfolio is to expand its offering in the industry, company said.
September 07, 2021 / 10:02 AM IST
VST Tillers Tractors share price touched a 52-week high of Rs 2,853.95, rising 8 percent in the early trade on September 7 after company launched the VST range of tractors and power tillers in Southern Africa.
".... has entered into an agreement with ETG (Export Trading Group), for distribution of its tractors, power tillers, power reapers and diesel engines in the Southern african markets including South Africa, Namibia, Botswana, Zimbabwe, Swaziland, and Zambia," company said in its release.
The objective behind the distribution model of VST Tillers Tractors in ETGL’s portfolio is to expand its offering in the industry, it added.
The launch introduces the complete range of VST’s tractors and power tillers into the Southern African market. The range extends from 18 HP (13.3 KW) 4WD to 50 HP (37.28 KW) tractors and small farm mechanization implements like, power weeders, power reapers and power tillers ranging from 5 HP (3.7 KW) to 16 HP (11.8 KW).
We are happy to be associated with a distribution partner like ETGL for bringing our products into Southern Africa. Their expertise and knowledge of the African market will be further accelerating our growth plans in the continent," said Antony Cherukara, CEO of VST Tillers Tractors.
At 09:23 hrs VST Tillers Tractors was quoting at Rs 2,803.55, up Rs 159.30, or 6.02 percent.