Escorts up for a rebound?

Escorts up for a rebound?

After losing most of its market to players like Mahindra, perhaps the north India based tractor manufacturer, Escorts is up to make a rebound in the domestic circuit.

While the company has been cutting its operational and financial expenses, the fact of the matter is that it is also looking at expanding its market share in the domestic circuit. The third largest tractor manufacturer in the country has been relying on its tractor business for the overall Group, the company is targeting to take its market share up by 1% in the short run.

Bank of Rajasthan inks ‘Financing Deal’ with Escorts

Private-sector lender Bank of Rajasthan has entered into a partnership with Escorts, a tractor and farm equipments manufacturer in India by signing memorandum of understanding (MOU), to help farmers in Rajasthan to obtain loan for tractors and farm equipments at a lower interest rate.

A joint statement said, the MoU will help farmers in Rajasthan to get benefit of tractor loan up to Rs. 10 lakh at the interest rate of 11.50 % per annum and for loan above Rs.
10 lakh the interest rate is 12% p. a.

Escorts Gets Into Partnership With Singapore Based STK

Automobile major Escorts Construction Equipment (ECEL) has joined hands with Singapore based, Singapore Technology Kinetics (STK), part of the Temasek Group.

The major reason for the partnership is to market the equipments of ‘Lee Boy’ brand for road construction and maintenance purposes. ECEL already includes areas like India, Nepal, Sri Lanka and Bhutan to market its products. STK is the owner of US based ‘Lee Boy’ brand.