Escorts to cut frills to turn more lean, profitable
Shweta Bhanot Mehrotra: Mumbai, Feb 07 2013, 03:51 IST
labour and rising cost of labour is expected to boost demand for the tractors,” says a Kotak Institutional Equities report on January 1. However, in the short term, the demand for tractors is expected to remain subdued as farmer profitability is likely to remain flat on sharp rise in input costs and muted crop price.
Currently, the premium tractors (50-80 hp) make around 6% of the total tractor market in the country and is expected to double this year. Some of the other makers in this segment include Mahindra & Mahindra (M&M), John Deere, Sonalika and TAFE.
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