VST Tillers, which had closed yesterday at Rs.2644.25, opened higher at Rs.2740 and went on to hit a new 52-week high at Rs.2898.90. Volumes are up almost 4 times.
The company recently launched the VST range of Tractors and Power Tillers in Southern Africa and for its distribution, it has entered into an agreement with ETG (Export Trading Group). This will give it access to the Southern African markets including South Africa, Namibia, Botswana, Zimbabwe, Swaziland, and Zambia.
The South African dealer network consists of 15 dealers nationwide, with a target to reach up to 25 dealers by March 2022.
Farm holding in most of the Southern African countries is dominated by small and marginal farmers, thereby making these small farm mechanization technologies a very relevant option.