VST Tillers gain on MoU with Zetor Tractors

VST Tillers Tractors today gained nearly 5 per cent on the bourses as it has entered into a Memorandum of Understanding (MoU) with Zetor Tractors. This MoU will help VST further expand its portfolio in the international market.

The purpose of this MoU includes the joint development of products. The products will be manufactured by VST at its new high horsepower manufacturing facility.

On the marketing front, both the companies will equally participate in marketing via JV and the jointly manufactured products would be sold via VST channel partners in India and through Zetor’s channel partners in the international market.

Zetor Tractors currently exports to more than 56 countries and has a customer base of 1.3 million globally.

Today, the stock of VST Tillers Tractors witnessed a gap up opening of 2 per cent at Rs 1,370.60. After that, the stock continued its traction and jumped nearly 5 per cent in intraday and made a high of Rs 1,406.95 on BSE.