The company's total sales during the reported month increased 23 per cent YoY to 2,389 units
Shares of VST Tillers Tractors
moved higher by 17 per cent to Rs 1,293 on the BSE on Thursday after the company reported strong tractors sales of 633 units in May 2020, up 23 per cent YoY, from 527 units sold in May 2019. In April, the company had posted 23.7 per cent YoY de-growth in sales.
The stock of the company engaged in manufacturing of power tillers and tractors business has rallied 41 per cent in the past three trading days from level of Rs 919 hit on Tuesday. It was trading close to its 52-week high level of Rs 1,414 touched on February 7, 2020.
The company's total sales during the reported month increased 23 per cent YoY to 2,389 units from 1,938 units in May last year. Power tillers sales jumped to 1,750 units in May 2020, up 24 per cent YoY, from 1,411 units sold in May 2019.
In the first two months of the current financial year, the company reported 30.7 per cent YoY growth in total sales at 3,472 units. Power tillers sales rose 47.7 per cent YoY at 2,511 units during the period.
Going forward, analysts expect the tractor segment to benefit from a bumper Rabi production. Besides, forecast of a normal monsoon augurs well for rural incomes.
At 01:24 pm, VST Tillers was trading 15 per cent higher at Rs 1,269 on the BSE, as compared to a per cent decline in the S&P BSE Sensex. A combined around 144,000 shares have changed hands on the counter on the NSE and BSE till the time of writing of this report.