New Delhi, Nov 15 (PTI) Farm machinery and construction equipment major Escorts Ltd on Monday said it would increase tractor prices with effect from November 21 in order to offset the rise in commodity prices.

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Escorts Agri Machinery (EAM), a division of the company, shall be increasing the prices of its tractors effective November 2021, the company said in a regulatory filing.

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"There has been a steady rise in commodity prices necessitating a price hike to offset the impact of the continuing inflation. The increase in prices would vary across models and variants," it added.

It, however, did not share the quantum of the price increase.

In a separate filing, the company said its board will meet on November 18 to consider proposals to raise funds by issue of bonds, debentures, non-convertible debt instruments among others.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)