VST Tillers is among the top five gainers on the BSE, going on to hit the 10% UC of the day at Rs.2964.80, which is also a new high. Volumes have jumped up 19 times.
The stock hit the roof after the company said that it has entered into a master service agreement with Zimeno, Inc, USA. to develop an integrated tractor powertrain for the electric tractor of Zimeno.
Earlier, it had launched the VST range of tractors and power tillers in Southern Africa, enabling distribution of its tractors, power tillers, power reapers and diesel engines in South Africa, Namibia, Botswana, Zimbabwe, Swaziland, and Zambia.
It has also entered into strategic alliances with Pubert from France for power weeders and zetor from the Czech Republic for tractors.
The company is the largest Indian manufacturer of tillers, 4WD compact tractors.