Escorts Kubota tractor volume rises 11.9% in Nov 2022; Stock climbs 2%

Escorts Kubota Limited has informed that its Agri Machinery Segment in November 2022 sold 7,960 tractors, registering a growth of 11.9% as against 7,116 tractors sold in November 2021.

As per the press release, Domestic tractor sales in November 2022 were at 7,359 tractors registering a growth of 13.4 percent as against 6,492 tractors sold in November 2021. Post festive season, demand continues to be normal.

While rural sentiments continue to remain favorable owing to improved Rabi sowing assisted by good monsoon this year and better water level in reservoirs, softening in commodity prices is not happening at desired pace leaving input costs to be higher than anticipated, the company said.

Export tractor sales in November 2022 was at 601 tractors as against 624 tractors sold in November 2021, it further added.

At around 11:07 AM, Escorts Kubota Ltd is currently trading at Rs2,331.45 per share up by Rs45.15 or 1.97% from its previous closing of Rs2,286.30 per share on the BSE.

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