Escorts Ltd. erased losses after the company posted a robust 53 percent growth in its tractor sales for the month of October.
The company sold 8,970 tractors in October, compared to 5,862 tractors during the same period last year, said their statement to the exchanges.
Domestic tractor sales grew 51.9 percent to 8,859 tractors compared to 5,832 tractors in the year ago period.
Tractor exports grew a whopping 270 percent in October. The company managed to sell 111 tractors compared to 30 tractors in October 2015.
Shares of the company that were trading lower by 1.83 percent, erased their losses and gained as much as 3 percent to Rs 390.95, post the announcement.