Escorts February tractor sales rise 18%, shares surge

Shares of Escorts Ltd rallied over 10 percent on Monday after the company registered a growth in total tractor sales in the month of February 2020.

The Escorts led Agri Machinery Segment (EAM) reported 18.8 percent rise in total tractor sales in February at 8,601 units as against 7,240 units sold in February 2019.

Domestic tractor sales during the month at 8,049 tractors registered a growth of 16.3 percent as compared to 6,918 tractors sold in February 2019.

Export for the month of February 2020 also rose by 71.4 percent to at 552 units versus 322 units, YoY.

The scrip touched intraday high of Rs 863.75 after surging 10.72 percent on the BSE and at 11 am, the stock was trading 9.90 percent higher at Rs 857.30.

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