Escorts has tied up with L&T Finance to provide loan for buying tractors. The company has inked a preferred financier agreement with L&T Finance to provide loans to tractor customers across the country.
"This partnership will be beneficial to tractor customers across India where L&T Finance has a network by making finance easily accessible," it added.
Commenting on the tie-up, Escorts Ltd Chief Sales & Marketing Officer Sameer Tandon said the partnership is a step in the right direction to ease the financing process for its customers. "L&T finance offers innovative products and services at affordable rates, with highly
competitive schemes for tractors, we are sure that dealers and customers both will get equally benefited through this tie-up," Tandon added.
L&T Finance COO G C Rangan said the tie-up would help people in buying their choice of tractor.
Escorts stock price
On July 25, 2014, Escorts closed at Rs 123.00, down Rs 4.85, or 3.79 percent. The 52-week high of the share was Rs 148.80 and the 52-week low was Rs 64.80.
The company's trailing 12-month (TTM) EPS was at Rs 14.63 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 8.41. The latest book value of the company is Rs 151.92 per share. At current value, the price-to-book value of the company is 0.81.
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