VST Tillers Tractors shares rallied over eight percent to hit a 52-week high of Rs 2,875.65 on the BSE after the company launched the VST range of Tractors and Power Tillers in Southern Africa.
The company has entered into an agreement with ETG (Export Trading Group), for the distribution of its Tractors, Power Tillers, Power Reapers and Diesel Engines in the Southern African markets including South Africa, Namibia, Botswana, Zimbabwe, Swaziland, and Zambia.
“The objective behind the distribution model of VST Tillers Tractors in ETGL’s portfolio is to expand its offering in the industry,” VST Tillers Tractors said in an exchange filing.
The launch introduces the complete range of VST’s Tractors and Power Tillers into the South African market.
The range extends from 18 HP (13.3 KW) 4WD to 50 HP (37.28 KW) Tractors and Small Farm Mechanisation implements like, Power Weeders, Power Reapers and Power Tillers ranging from 5 HP (3.7 KW) to 16 HP (11.8 KW), it added.
The stock price of VST Tillers Tractors rallied over 40 percent in one month and is up more than 52 percent YTD.
At 10:25 am, the shares of VST Tillers Tractors were trading 8.01 percent higher at Rs 2,856 apiece on the BSE.