Escorts hits 52-week low on poor tractor sales; share down 4%

Shares of Escorts touched its 52-week low of Rs 452.70, falling nearly 4 percent in early trade on August 1 on the back of poor sales in the month of July 2019.

The company's Agri Machinery Segment (EAM) in July 2019 sold 4,860 tractors against 5,610 tractors sold in July 2018. In the domestic market, the tractor sales were down 17 percent in the month gone by at 4,505 against 5,483 tractors in July 2018.

However, the company's export rose 179.5 percent at 355 tractors versus 127 tractors sold in July 2018. At 0932 hrs Escorts was quoting at Rs 463.65, down Rs 6.35, or 1.35 percent on the BSE.

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