Escorts announced that Escorts Kubota, a 60:40 joint venture between Kubota Corporation, Japan and Escorts, has started the commercial production of Kubota Tractors from 25 September 2020.

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Fine Organic Industries Ltd, Kansai Nerolac Paints Ltd, V-Mart Retail Ltd and Amara Raja Batteries Ltd are among the other gainers in the BSE's 'A' group today, 09 September 2020.

Escorts Ltd soared 5.14% to Rs 1179.3 at 11:54 IST. The stock was the biggest gainer in the BSE's 'A' group. On the BSE, 1.33 lakh shares were traded on the counter so far as against the average daily volumes of 1.14 lakh shares in the past one month.

Fine Organic Industries Ltd surged 3.60% to Rs 2710.85. The stock was the second biggest gainer in 'A' group. On the BSE, 6149 shares were traded on the counter so far as against the average daily volumes of 8212 shares in the past one month.

Kansai Nerolac Paints Ltd spiked 3.29% to Rs 499. The stock was the third biggest gainer in 'A' group. On the BSE, 7420 shares were traded on the counter so far as against the average daily volumes of 8279 shares in the past one month.

V-Mart Retail Ltd exploded 3.09% to Rs 1923.9. The stock was the fourth biggest gainer in 'A' group. On the BSE, 1508 shares were traded on the counter so far as against the average daily volumes of 2456 shares in the past one month.

Amara Raja Batteries Ltd jumped 2.40% to Rs 735. The stock was the fifth biggest gainer in 'A' group. On the BSE, 10269 shares were traded on the counter so far as against the average daily volumes of 39467 shares in the past one month.

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Sequentially, the company's total tractor sales jumped 37% in August 2020 from 5,322 units sold in July 2020.

Total domestic tractor sales stood at 6,750 units (up 79.4% YoY) and total exports were at 518 units (up 90.4% YoY) in August 2020.

The market sentiment continues to be highly positive with good monsoons, better Kharif sowing, crop prices holding up well, and good supply of retail finance. We remain optimistic for the coming festive months. The supply side situation improved significantly as compared to last month. We are currently operating close to peak capacity now. In August 2020 we could build some inventory both at dealer and depots, which since last few months was at very low levels, the company said in its outlook for the domestic market.

On a consolidated basis, the tractor maker's net profit rose 5.6% to Rs 92.58 crore on 24.4% decline in net sales to Rs 1,089.26 crore in Q1 June 2020 over Q1 June 2019.

The Escorts Group is an Indian engineering company that operates in the sectors of agri-machinery, construction and material handling equipment, and railway equipment.

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Escorts Agri Machinery Segment (EAM) in August 2020 sold 7,268tractors, its highest ever August sales and registering a growth of 80.1 percent against 4,035 tractors sold in August 2019.

Domestic tractor sales in August 2020 was at 6,750 tractors registering a growth of 79.4% against 3,763 tractors in August 2019. The market sentiment continues to be highly positive with good monsoons, better Kharif sowing, crop prices holding up well, and good supply of retail finance. The company remains optimistic for the coming festive months. The supply side situation improved significantly as compared to last month. The company is currently operating close to peak capacity now. In August 2020, the company could build some inventory both at dealer and depots, which since last few months was at very low levels.

Export tractor sales in August 2020 was at 518 tractors against 272 tractors sold in August 2019, registering a growth of 90.4%

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