According to the brokerage firm, Centrum Broking, the company experienced increased credit costs in the second quarter, primarily due to rise in provisions and write-offs resulting from challenges in the tractor segment caused by erratic monsoon.
Following the stellar Q2FY24 performance, the stock opened the Friday session at ₹466 apiece, up from the previous closing price of ₹450, and surged further to reach an intraday high of ₹474, marking a 5.33% gain.