Escorts and M&M gear up owing to December tractor sales
DSIJ Intelligence / 02 Jan 2017
India’s largest farm equipment maker, Mahindra & Mahindra; and agro machinery major, Escorts have surged higher in trade owing to strong numbers in terms of tractor units sold. Good numbers can be attributed to strong rabi sowing.
India’s largest farm equipment maker, Mahindra & Mahindra; and agro machinery major, Escorts have surged higher in trade owing to strong numbers in terms of tractor units sold. Good numbers can be attributed to strong rabi sowing.
Mahindra & Mahindra’s Farm Equipment Sector (FES), a part of the Mahindra Group has also reported its December sales numbers. Domestic sales in December 2016 were at 12,619 units, as against 11,686 units during December 2015. Total tractor sales (domestic + exports) during December 2016 were at 14,047 units, as against 12,868 units for the same period last year. Exports for the month stand at 1,428 units.
Company has attributed good results to strong rabi sowing and increase of MSPs, indicating continued growth momentum in the coming months.
On the other hand, Escorts' Agri Machinery Segment (EAM) in December 2016 has sold 3,187 tractors, showing a growth of 15.8 per cent against 2,751 tractors in December 2015.
Domestic tractor sales for the month of December 2016 are up by 11.6 per cent at 3,043 tractors against 2,727 tractors in December 2015. Export for the month of December 2016 is up by 500 per cent at 144 tractors against 24 tractors in December 2015.
Stocks of both Escorts and M&M are trading at Rs 322.40 and Rs 1225.95, up by 9 and 4 per cent respectively.
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