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IDBI Capital Report
In February 2021, original equipment manufacturers like Maruti Suzuki India Ltd., Hero MotoCorp Ltd., TVS Motor Company Ltd., Ashok Leyland Ltd., Escorts Ltd. and Mahindra and Mahindra Ltd. (farm equipment segment) has reported better than expected numbers while Bajaj Auto Ltd., Royal Enfield has reported a marginal growth.
Tractor demand continues to be strong due to healthy macroeconomic factors, record rabi crop sowing, high reservoir levels and higher liquidity in the hands of farmers with timely kharif procurement.
We believe demand continues to remain strong on account of better positive sentiments and more economic activity.
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