Escorts says tractor sales slowing on sluggish lending

Newswire

NEW DELHI, July 29 (Reuters) - Escorts Ltd sees a dip in tractor sales for its current fiscal ending September on reluctance of banks to lend and on recent price hikes on back of rising raw material costs, its joint managing director said. But the firm would post a profit in 2007/08 from an year ago loss helped by better margins on cost cutting through various methods like business integration, geographic sourcing of raw materials and price hike. "Public sector finance for the tractor ...

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