One of India's leading agri-machinery companies, Escorts Limited has witnessed a rise of 8 percent to Rs 834 on the BSE. The company has improved by 35% in the past one month as compared to a decline of 4% in the S&P BSE Sensex. For decades, the company has been a helping hand for many farmers through its wider reach across the world.
The surge in the shares has erased the entire 4% falls on the expectation of improvement in tractor sales. Escorts declared its agri machinery segment's 1.2% increase in the sale of tractors to 6,063 units in January 2020. The brand has witnessed a month-on-month growth of 47 percent. It sold approximately 5,991 units in January last year while in December; the company had sold 4,114 units.
Talking about the company's portfolio, it has three different segments namely, Escorts Agri-Machinery, Escorts Construction Equipment, and Railway Equipment Division. Powered by in-house research and development center and collaborations with global technology leaders, Escorts aims at contributing towards making it simpler for many professionals in agriculture and other fields all over the world.
The government recently increased agriculture credit to Rs 15 trillion for Financial Year 2021. The fund allocation for the Ministry of Agriculture and Farmer Welfare and Ministry of Rural Development has also seen a major increase of Rs 2.55 trillion in FY21.
