 "Escorts gains on JV with Amul Group for manufacturing specialised tractors")
Shares of Escorts moved higher by 5% to Rs 141 on the BSE after the commercial vehicles maker said it has entered into a joint venture (JV) with Amul Group for manufacturing specialty tractor – Steeltrac.
Steeltrac is a specialised tractor which is complimentary to general purpose tractors which can efficiently facilitate operations like inter-weeding for farmers growing row-crops such as groundnut, cotton and sunflower.
The market for specialised tractors has been growing tremendously and this strategic investment will further enhance Escort’s commitment towards bringing a wider range of products to Indian farmers, the company said in a press release.
The stock opened at Rs 134 and has seen a combined 1.68 million shares changed hands on the counter on the BSE and NSE till 1435 hours.
Steeltrac is a specialised tractor which is complimentary to general purpose tractors which can efficiently facilitate operations like inter-weeding for farmers growing row-crops such as groundnut, cotton and sunflower.
The market for specialised tractors has been growing tremendously and this strategic investment will further enhance Escort’s commitment towards bringing a wider range of products to Indian farmers, the company said in a press release.
The stock opened at Rs 134 and has seen a combined 1.68 million shares changed hands on the counter on the BSE and NSE till 1435 hours.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%