Shares of VST Tillers Tractors soared over 8 per cent and hit their fresh 52-week high of Rs 2,672 in early trade on Wednesday after the company said that sales of power tillers surged 113.5 per cent Y-o-Y to 3,004 units in December 2017.
The scrip was trading 8.04 per cent up at Rs 2,649.90 at around 10.05 am (IST). Shares of the company opened at Rs 2,545 and touched a high and low of Rs 2,672 and Rs 2,545, respectively, in trade. Benchmark
BSE Sensex was up 158 points, or 0.47 per cent, at around the same time.
Tractors sales remained flat at 611 units in December 2017 against the same month last year.
The company is engaged in the business of manufacturing power tillers, tractors, paddy transplanters and diesel engines.
On the BSE, 3,197 shares were traded in the counter so far, compared with an average volume of 1,037 shares in the past two weeks.
The stock had hit a 52-week low of Rs 1,750 on January 4, 2017.
The company has a healthy balance sheet with surplus cash of around Rs 190 crore on the books as of FY17 and healthy return ratios with RoCE in excess of around 20 per cent.