Its market share has increased by 2.4 per cent to 16.1 per cent. Mahindra & Mahindra has sold more tractors than Punjab Tractors at 7,779 units for March 1999, but the sales are down by 15.1 per cent compared to March 1998 sales of 8,301 units. The market share has also dropped by 0.7 per cent over March 1998.

The Bangalore-based HMT has also sold 3,739 tractors in March 1999 compared to 3,240 tractors in the corresponding period last year thus recording increased sales of 15.1 per cent in March 1999 compared with the corresponding period last year.

This is as per the data provided to The Financial Express by the Mumbai-based brokerage firm Shailesh Merchant and Brokers. "Positive agricultural growth ratefor the fiscal 1999-2000 will give a further boost to these companies. We should see better performance by these companies this fiscal," feels vice-president Chetan Shah of the brokerage firm. Punjab Tractors has for the financial year ended March 1999, again emerged as a major player in the tractors segment with its market share increasing by 2.5 per cent on the back of overall increased sales of 19.56 per cent to 48,336 tractors for the year ended March 1999.

For the year ended March 1999, Mahindra & Mahindra has improved its sales by 2.3 per cent at 69,360 units, compared to 67,779 tractors in the corresponding period last year. The company has, however, seen its market share shrink nominally by 0.2 per cent for the financial year ended March 1999 at 26.5 per cent compared to 26.7 per cent last year.

For March 1999, M & M's market share has dropped by 0.7 per cent with sales dropping to 7,779 tractors compared to 8,301 tractors in March 1998. In contrast, Punjab Tractors has managed to improve itsmarket share by 2.4 per cent. Escorts' sales dropped by 14.7 per cent to 5,810 tractors in March 1999 compared to 6,809 tractors in March 1998. Surprisingly, Sonalika, a south -based firm, has reported a 98.1 per cent jump in its sales in March 1999 to 842 tractors compared to 425 tractors in the corresponding period last year.

The firms which have managed to increase their market share in the financial year ended March 1999 are Punjab Tractors, Eicher -- which recorded an increase of 0.1 per cent, and Sonalika at 1.2 per cent. All other tractor companies have seen their market share dwindle in the year to March 1999 with M& M nominally losing market share by 0.2 per cent, Massey Tractors 2.2 per cent, Escorts 1.8 per cent and HMT by 0.3 per cent.