VST Tillers Tractors gains after unveiling of 3 new models

The stock is trading 4.68 percent below its 52-week high and 81.8 percent above its 52-week low

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VST Tillers Tractors share price rose a percent in the early trade on November 16 as the company unveiled three new tractors, including its indigenously developed electric tractor, at the Agritechnica 2023 in Germany.

At 9.19 am, VST Tillers Tractors was quoting at Rs 3,812.60, up Rs 37.75, or 1 percent on the BSE.

The three new tractors are 929 EV, 932 DI with Stage V engine and 929 with HST Transmission. The company also showcased its state-of-the-art Stage V engine (24.5hp) at Agritechnica 2023 in Hanover. The new machines will come under the Fieldtrac brand.

The unveiling of the latest models under the brand would further revolutionise the farm mechanisation and establish VST brand on the global Platform, the company said.

In August, the company introduced six models under Series 9 as the most advanced compact range. In October, VST-ZETOR brand came into existence.

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The tractor manufacturer posted a 60 percent year-on-year jump in net profit at Rs 36.45 crore in the September quarter.

The share touched a 52-week high of Rs 3,999.95 on September 6, 2023 and and a 52-week low of Rs 2,097.15 on March 20, 2023. The stock is trading 4.68 percent below its 52-week high and 81.8 percent above its 52-week low.