VST Tillers Tractors inks pact with Export Trading Group; shares hit 52-week high

Shares of VST Tillers Tractors share price touched a 52-week high of Rs 2,875, advancing as much as Rs 8.8% or Rs 232.35 per share in the early trade on September 7 after the company launched the VST 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,” company said in its release.

The objective behind the distribution model of VST Tillers Tractors in ETGL’s portfolio is to expand its offering in the industry, it added.

The launch introduces the complete range of VST’s tractors and power tillers into the Southern African market. The range extends from 18 HP (13.3 KW) 4WD to 50 HP (37.28 KW) tractors and small farm mechanization implements like power weeders, power reapers and power tillers ranging from 5 HP (3.7 KW) to 16 HP (11.8 KW).

“We are happy to be associated with a distribution partner like ETGL for bringing our products into Southern Africa. Their expertise and knowledge of the African market will be further accelerating our growth plans in the continent,” said Antony Cherukara, CEO of VST Tillers Tractors.

The South African dealer network consists of 15 dealers nationwide, with a target to reach up to 25 dealers by March 2022.

“Excited to announce this launch and about making quality farming solutions easily accessible and available to both emerging and commercial farmers,” said Rajeev Saxena, CEO, ETGL.