Quote on Escorts Monthly Volumes by Mr. Milan Desai, Angel Broking
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