The company expects volume in the domestic tractor industry to fall by 6-7% in FY24. Export markets also remain dull thanks to recessionary concerns in Europe, and the company’s launch in the US has been delayed to FY26.
The stock rose from Rs 2,200 as of June 27 to Rs 3,320 recorded on 27 September, which translates into an upside of about 50% in the last 3 months. The momentum pushed the stock to hit a record high of Rs 3,344 on 30 August, but it failed to hold the momentum. The stock closed at Rs 3,324 on 27 September