India's Escorts Kubota at 4-month high on price hikes for tractors

VST Tillers Tractors

22/04/2024 07:10

** Shares of Escorts Kubota  ESCO.NS  up 2.2% at 3,178
rupees, highest since Dec. 18, 2023
    ** Tractor manufacturer announces price hike from May 1
    ** Stock was up 0.8% before news
    ** ESCO did not mention quantum of price hike but said it
would vary from across models
    ** Over 315,000 shares traded, 1.2x 30-day avg volume
    ** Analysts rate ESCO a "hold" on avg, while rate market
leader Mahindra & Mahindra a "buy" . MAHM.NS  -LSEG data
    ** ESCO has risen ~7% YTD, trailing MAHM's 20% jump but
outperforming smaller rival VST Tillers'  VST.NS  10% drop


 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))