Escorts hits over 2-month high ahead of Q4 results; stock up 18% in 6 days

Analysts believe outlook for the tractor industry for FY21 is positive with better Rabi sowing, higher reservoir levels and adequate financing availability

Shares of Escorts hit an over two-month high of Rs 819, surging 7 per cent, on the BSE on Wednesday ahead of the company's January-March quarter results (Q4FY20) results scheduled for tomorrow. The stock was trading at its highest level since March 6, 2020.

The board of directors of the company is scheduled to meet on Thursday, May 14, 2020, to consider audited financial results for the quarter and year ended March 31, 2020. The board will also consider the payment of dividend for the fiscal, if any.

The stock of the tractor manufacturer has rallied 18 per cent in the past