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Escorts becomes first company to get regulatory nod to sell electric tractors in India
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Synopsis
The company has been exporting its electric tractors since 2019 and now plans to launch the same in India, according to a press statement released today. It had first showcased the concept of this tractor in 2017.
Escorts is a leading tractor manufacturer and exporter from India. (Pic Credit: Escorts Group)
Mumbai: Leading tractor maker Escorts on Monday received certification for compliance to Central Motor Vehicles Rules for its electric tractors, becoming the first company in India to get the regulatory nod to sell tractors with an electric drivetrain.
Barometers further extended gains and hit a fresh intraday high in early afternoon trade. At 12:20 IST, the barometer index, the S&P BSE Sensex, soared 631.76 points or 1.30% at 49,196.03. The Nifty 50 index jumped 190 points or 1.33% at 14,471.30.
In the broader market, the S&P BSE Mid-Cap index rose 1.72% while the S&P BSE Small-Cap index gained 1.52%.
The market breadth was very strong. On the BSE, 1,978 shares rose and 709 shares fell. A total of 133 shares were unchanged.
Positive cues from other Asian markets and robust FII inflows in the domestic equity market boosted sentiment.
Derivatives:
The NSE s India VIX, a gauge of market s expectation of volatility over the near term, dropped 5.09% to 23.1525. The Nifty 28 January 2021 futures were trading at 14,501, at a premium of 29.70 point compared with the spot at 14,471.30.
The Midcap index has scaled to a fresh all-time high after three years and has witnessed a faster retracement of the entire 27 months corrective phase (21,840-10,750) in just 10 months, signalling structural turnaround.
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