The company will develop an integrated tractor powertrain for electric tractors made by US-based Zimeno Inc
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VST Tillers Tractors share price jumped 10 percent after the company said it entered into a master service agreement with American firm Zimeno to develop integrated tractor powertrain for its electric tractor.
The stock was trading at Rs 2,964.80, up Rs 269.50, or 10 percent. It has touched a 52-week high of Rs 2,964.80.
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There were pending buy orders of 4,130 shares, with no sellers available. It was trading with volumes of 28,436 shares, compared to its five-day average of 1,190 shares, an increase of 2,289.18 percent.
In September, VST Tillers launched a range of tractors and power tillers in southern Africa. “The company has entered into an agreement with ETG (Export Trading Group), for distribution of its tractors, power tillers, power reapers and diesel engines in the Southern African markets, including South Africa, Namibia, Botswana, Zimbabwe, Swaziland, and Zambia,” VST Tillers Tractors had said in a BSE filing.
The company reported a sales growth of 8.7 percent in September at 2,441 units against 2,246 units in the year-ago period.
