VST Tillers Tractors gains on inking MoU with Axis Bank
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VST Tillers Tractors is currently trading at Rs. 3411.85, up by 45.10 points or 1.34% from its previous closing of Rs. 3366.75 on the BSE.
The scrip opened at Rs. 3469.95 and has touched a high and low of Rs. 3469.95 and Rs. 3393.65 respectively. So far 379 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 4184.25 on 17-Nov-2023 and a 52 week low of Rs. 2617.65 on 24-May-2023.
Last one week high and low of the scrip stood at Rs. 3469.95 and Rs. 3330.00 respectively. The current market cap of the company is Rs. 2970.27 crore.
The promoters holding in the company stood at 55.63%, while Institutions and Non-Institutions held 18.76% and 25.61% respectively.
VST Tillers Tractors (VST) has signed a Memorandum of Understanding (MoU) with Axis Bank, one of the leading private sector banks in India, to offer financial solutions to the farmers for purchasing tractors and Farm Mechanisation products. As per the agreement, Axis Bank will provide financial solutions to VST’s prospective customers through its extensive network of 5370 plus branches spread across geography.
As per the MoU both the companies will leverage its extensive footprint to reach out to the farmers community to ensure that they have an easy access to credit facility for adapting farm mechanization. This partnership will enable farmers to avail hassle-free, affordable, and flexible credit facilities to transform the agricultural sector. The Bank will offer flexible repayment options, swift sanctions, and special benefits on EMI options to encourage the farmers to opt for adapting farm mechanization.
VST Tillers Tractors was incorporated in technical collaboration and joint venture with Mitsubishi Heavy Industries and Mitsubishi Corporation, Japan for the manufacture of Power Tillers and Diesel Engines.
