Shares of Escorts in 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 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, the company said in the release.
tractor sales in the Indian market 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, the 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.
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