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By Malvika Gurung
Investing.com — Shares of the farm equipment manufacturer VST Tillers (NS:) Tractors soared 13.97% to a new all-time high of Rs 3,790 apiece on Friday after the company entered into an agreement with the leading US-based electric tractor manufacturer Solectrac Inc.
The leading Indian power tillers and tractors manufacturer announced on Friday that it has entered into a Master Service agreement with Solectrac Inc, USA, for the joint development of Electric Power tillers and other Agricultural Machineries.
The tractor manufacturing stock has been on an upswing for the past six straight trading days, strongly defying the overall market sentiment, and jumping 26.4% during the period.
The small-cap stock has surged 16.2% in the past month, compared to an up to 2% fall in and each during the same period.
So far in the calendar year 2023, VST Tillers Tractors’ shares have risen significantly by 61%, and are up 43.1% in a one-year period.
InvestingPro’s financial models appear bullish on the tillers manufacturer stock and have an average fair value of Rs 3,595.55/share set on it, indicating an upside of 1.5% from the stock’s closing price on Friday.
The most bullish value has been set by the ‘EV / EBIT Multiples’ investing model, at a fair value of Rs 4,787 per share, which indicates a healthy potential upside of 35.2%.
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