Escorts shines on launching country’s first Row Crop Specialist tractor 'Steeltrac'

08 Oct 2013 Evaluate

Escorts is currently trading at Rs. 95.85, up by 4.15 points or 4.53% from its previous closing of Rs. 91.70 on the BSE.

The scrip opened at Rs. 92.80 and has touched a high and low of Rs. 96.80 and Rs. 92.30 respectively. So far 3, 84,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 96.80 on 08-Oct-2013 and a 52 week low of Rs. 48.35 on 28-Mar-2013.

Last one week high and low of the scrip stood at Rs. 92.45 and Rs. 84.75 respectively. The current market cap of the company is Rs. 1,174 crore.

The promoters holding in the company stood at 41.98% while Institutions and Non-Institutions held 17.46% and 40.56% respectively.

Escorts, India’s leading tractor manufacturer, has launched India’s first row-crop special tractor - Steeltrac, specially designed for row-crop farming. The company has entered into a strategic alliance with Rajkot-based Adico Group for manufacturing of this sub-20 HP tractor.

Steeltrac is designed keeping in mind the needs of cotton, groundnut and vegetable farms, where a normal-size tractor just cannot work. With its best-in-class track width, high ground clearance, stronger pulling power and superior fuel average, Steeltrac provides a modern mechanized solution to these farmers who are today forced to use primitive methods of cultivation such as bullocks.

Escorts offer a comprehensive range of tractors with more than 45 variants starting from 25 to 110 HP. The company also manufactures and markets a diverse range of equipments like cranes, loaders, vibratory rollers and forklifts.

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