Shares of VST Tillers Tractors rallied and reached a 52-week high of Rs 3,790 on 25 August after the company entered into an agreement with US-based Solectra.

The company said in its regulatory filing that that company has entered into a master service agreement with US-based Solectrac Inc. to develop a tiller and other agricultural machinery jointly.

During the month of August, the company has announced the launch of its series 9 range compact tractors in the range of 18.5HP to 36HP in India.

The company is looking to enter the US market in two years.

The company also announced that it will be launching three higher horsepower tractors next month in India and three more in Germany, which will include an electric tractor in November.

The company also reported a strong quarterly report for the April-June quarter, with a threefold increase in its net profit at Rs 33 crore.

At 3:30 pm, the shares of VST Tillers Tractors closed at Rs 3,530 or 6.16% above its previous close of Rs 3,325.15 on NSE.