Escorts Agri Machinery increases prices of tractors from April 1

The increase in prices from this Escorts division would vary across models and variants, company said.

Mar 24, 2021 04:03 IST India Infoline News Service

Escorts Tractor
Escorts Agri Machinery (EAM), a division of Escorts Limited, shall be increasing the prices of its tractors effective April 1, 2021.

Many auto companies like Maruti Suzuki India Limited and Hero MotoCorp have announced price hikes already and many more or likely to follow the suit. The input costs are rising and companies are resorting to price hikes to protect their profit margins.

“There has been a steady rise in commodity prices necessitating a price hike to offset the impact of the inflation. The increase in prices would vary across models and variants,” company said in a regulatory filing on Wednesday.

Escorts Ltd trade on Wednesday ended at Rs1,324.95 per piece down by Rs40.4 or 2.96% from its previous closing of Rs1,365.35 per piece on the BSE.

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