VST Tillers slips after weak sales in Nov

V.S.T. Tillers Tractors fell 1.26% to Rs 1080.10 after the firm reported weak auto sales figures in November 2019.

The company's total auto sales slipped 7.90% to 1806 units in November 2019 from 1961 units in October 2019. Power tillers sales rose 12.14% to 1238 units in November 2019 from 1104 units in October 2019. However, total tractor sales slumped 33.72% to 568 units in November 2019 from 857 units in October 2019.

V.S.T. Tillers' total sales fell 33.99% year-on-year (yoy) in November 2019 from 2736 units in November 2018. Power tillers sales fell by 41.27% from 2108 units last year. Tractor sales also tumbled 9.55% from 628 units in November 2018.

Net profit of VST Tillers fell 30.6% to Rs 6.38 crore on a 11.3% rise in net sales to Rs 160.88 crore in Q2 September 2019 over Q2 September 2018.

The stock has fallen 4.48% in four sessions to its current market price of Rs 1080.10 from a recent closing high of Rs 1130.80 on 2 December 2019.

VST Tillers Tractors is engaged in the manufacturing of power tiller and tractor. The firm operates through the manufacturing and trading of agriculture machinery segment.

On the technical front, the stock's RSI (relative strength index) stood at 29.91. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

The stock was currently trading below its 50-day moving average (DMA) placed at Rs 1209.86, as well as below its 200 DMA placed at Rs 1220.20.

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