Escorts hits all-time high after recording best-ever August tractor sales

Escorts said the market sentiment continues to be highly positive with good monsoons, better Kharif sowing, crop prices holding up well and good supply of retail finance

Shares of Escorts zoomed 10 per cent to its fresh all-time high of Rs 1,221 on the BSE on Wednesday. It has rallied 12 per cent in the past two trading days after the company’s Agri Machinery Segment (EAM) reported an 80 per cent year-on-year growth in tractor sales at 7,268 units in the month of August. The stock surpassed its previous high of Rs 1,211, touched on July 22, 2020.

It had sold 4,035 tractors in August 2019. On month-on-month (MoM) basis, the volume was up 36.6 per cent, Escorts said in a statement. The company's domestic sales