Shares of VST Tillers Tractors were locked in the upper circuit band of 20 per cent at Rs 1,103 on the BSE on Tuesday ahead of the May sales numbers. The company, engaged in manufacturing of power tillers and tractors, is expected to report healthy sales numbers for the month.
VST Tillers Tractors had posted strong sales in April 2020 with the company's total sales climbing 51 per cent year-on-year (YoY) to 1,089 units from 721 units in April 2019.
Besides, power tillers sales jumped to 761 units in April 2020, up 163 per cent YoY, from 289 units sold in April 2019. Tractor sales, however, contracted by 24.07 per cent to 328 units in April 2020 from 432 units in April 2019.
Analysts, however, expect the tractor segment to benefit from a bumper Rabi production. Besides, forecast of a normal monsoon augurs well for rural incomes.
Additionally, VST Tillers Tractors had entered into a strategic alliance with French firm Pubert's Indian arm last month to provide agri-support to Indian farmers at affordable prices. Pubert is a worldwide leader in the conception and fabrication of machines, for the soils and gardens maintenance. VST, on the other hand, is the leader in the power tiller industry with over 50 per cent market share.
Till 01:43 pm, a combined 135,000 shares have changed hands on the counter and there were pending buy orders for around 17,000 shares on the NSE and BSE.
Search
Search Result For News
- Type Search Query
