After a stellar run on the bourses that saw tractor stocks rise up to 52 per cent, analysts are turning cautious on the sector as muted demand trends may weigh in the near-term. Total volumes in the tractor segment for the last three quarters of the current financial year (9MFY24) have remained weak with VST Tillers, Escorts Kubota, and M&M seeing declines of 21 per cent, 5 per cent, and 3 per cent year-on-year (Y-o-Y), respectively, during the period, amid patchy rainfall, delayed crop harvest, and lower reservoir level. Across industry, total domestic sales volume so far in the current financial year (April '23 to January '24) has declined 5 per cent Y-o-Y, as per Tractor Manufacturers Association (TMA).
Japanese firm Mitsubishi Heavy Industries on Friday said it will set up a manufacturing plant in Mysore to manufacture small size diesel engines, in joint venture with city-based VST Tillers Tractors Ltd.
Mallya has to deliver or he won't be able to raise money for the airline.\n
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Auto stocks led the rally with Tata Motors, Hero MotoCorp and Maruti Suzuki leading the gains.
The India Meteorological Department on Tuesday said the monsoon this year is expected to be 'above normal.'
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