Quote on Escorts Monthly Volumes by Mr. Milan Desai, Angel Broking
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Below is quote on Escorts Monthly Volumes by Mr. Milan Desai, Lead Equity Analyst, Angel Broking
Escorts Ltd total monthly sales declined by ~22% MoM to 5,693 units, which is slightly below expectations. Domestic tractor sales were down 27% MoM to 4920 units while Exports were up 52% MoM to 773 units. The domestic growth is close to ~7% higher than average levels of FY19/20 and is in line with management commentary for the residual volume growth for FY22. We have a positive view on Escorts due to favourable rural sentiments and resumption of construction activity in H2.
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On the higher side, immediate resistance is seen around 36000 - 36200 levels - Angel One
