Escorts rides high

Almost all the automobile companies have reported a decline in sales for the month of Feb. Escorts is the only one swimming against the tide.

Today morning, it reported that its total agri machinery volumes grew 19% (YoY) selling 8601 tractors while MoM it registered a growth of 42%.

Domestic tractor sales rose 16% (YoY) while exports grew 71%.

The stock price is happy with these sales numbers and the stock opened 5% higher at Rs.820; it went higher by 11% to an intraday high at Rs.863.75.