Tractors Sales

However, fertiliser stocks may not see another upsurge as they have have more-than-doubled in the last six months, they said

Near-term worries for the stock include volume uncertainty, premium valuations

Domestic passenger vehicle sales are expected to rise over 30-per cent year-on-year in November, driven by large order book and higher vehicle production while the commercial vehicle segment sales volume could grow in double digits during the month, a report said on Friday. Tractors volumes, however, are likely to remain muted on inventory destocking with dealers, brokerage firm Emkay Global Financial Services said in a report. It also said that vehicle discounts have reduced on a sequential basis and remain significantly lower than the elevated levels seen in the past. Automobile makers in the country are set to publish vehicle sales data for November on December 1. The PV segment is likely to record higher volumes on account of the large order book while the CV and two-wheelers are likely to maintain their positive growth momentum in November, Emkay Global said. Projecting over 30 per cent growth for the passenger vehicle segment in the current month over the same month last ye

This is despite volumes touching a record high

The stock traded lower for the third straight day has fallen 9 per cent during this period; it aslo turned ex-dividend for Rs 7 per share on Thursday.

Farmers used the proceeds from the windfall to purchase tractors, leading to a sharp 44 per cent spike year-on-year (YoY) in the first two months of the April-June quarter

In Q1, standalone EBITDA margin improved 310 basis points (bps) to 15.5 per cent from 12 per cent in Q4.

Growth in the domestic tractor sales volume is likely to be at 3-5 per cent this fiscal, given the strong second wave of COVID-19 and rising cases in the hinterland, rating agency Crisil said.

Tractor stocks such as M&M and Escorts are indicating a bullish outlook for coming sessions

Bajaj Auto and Heidelberg Cement are showing a firm positive sentiment

Volumes were dragged by medium & heavy commercial vehicles and three-wheelers. which fell 71 per cent and 94 per cent respectively

Growth in current financial year is expected to be in high single-digits after record sales in FY18