Farm equipment manufacturer Escorts Agri Machinery on Monday reported a 48.8 percent jump in tractor sales at 9,021 units in January 2021. The company had sold 6,063 units inJanuary2020.
Domestic tractor sales during last month stood at 8,510 units as against 5,845 units inJanuary2020, up 45.6 percent, Escorts said in a BSE filing. Escorts said the tractor market continues to be strong on back of positive macroeconomic factors and strong rural cash flows.
”The supply side situation is normalising and is no longer expected to be a bottleneck to meet demand. However, rising inflation continues to be a worry,” the company said. Exports last month grew to 511 units compared with 218 units inJanuary2020.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Lok Sabha Election 2024: What rural Delhi wants
May 16, 2024 10:10 PM
Over 50 onion farmers detained in Nashik ahead of PM Modi's visit
May 16, 2024 11:14 AM
Why Google CEO is cautiously optimistic about the election year
May 16, 2024 9:51 AM
Mark Mobius reveals how markets will react if NDA wins 400+ Lok Sabha seats
May 15, 2024 8:09 PM