VST Tillers freezes at 20% upper circuit ahead of May sales numbers

Shares of VST Tillers Tractors ended up locked in the upper circuit band of 20

Shares of VST Tillers Tractors ended up locked in the upper circuit band of 20 per cent at Rs 1,103 on the BSE on Tuesday in advance of the May possibly income quantities. The business, engaged in manufacturing of power tillers and tractors, is predicted to report balanced income quantities for the thirty day period.

VST Tillers Tractors had posted solid income in April 2020 with the company’s full income climbing fifty one per cent 12 months-on-12 months (YoY) to 1,089 models from 721 models in April 2019.

In addition to, power tillers income jumped to 761 models in April 2020, up 163 per cent YoY, from 289 models marketed in April 2019. Tractor income, even so, contracted by 24.07 per cent to 328 models in April 2020 from 432 models in April 2019.

Analysts, even so, count on the tractor phase to gain from a bumper Rabi generation. In addition to, forecast of a regular monsoon augurs effectively for rural incomes.

Additionally, VST Tillers Tractors had entered into a strategic alliance with French company Pubert’s Indian arm last thirty day period to offer agri-support to Indian farmers at cost-effective costs. Pubert is a all over the world leader in the conception and fabrication of devices, for the soils and gardens upkeep. VST, on the other hand, is the leader in the power tiller industry with more than fifty per cent market share.

Till 01:43 pm, a merged 135,000 shares have altered palms on the counter and there ended up pending buy orders for about 17,000 shares on the NSE and BSE.