Escorts rallies 5%, hits record high on healthy outlook in current fiscal

The company's domestic market share increased to 11.6 per cent in fiscal 2020 from 10.8 per cent in fiscal 2018. Overall, Escorts revenues are expected to register 5-6 per cent growth in fiscal 2021

Shares of Escorts moved higher by 5 per cent to Rs 1,350, also its fresh record high, in the intra-day trade on the BSE on Monday on expectation of better-than-expected demand for tractors in the domestic market in the current fiscal. This demand improvment, analysts say, could translate into good revenue growth for the company.

The stock surpassed its previous high of Rs 1,343, touched on September 30, 2020. In the past one year, it has zoomed 106 per cent as compared to a 5.3 per cent rise in the S&P BSE Sensex.

Escorts' management stated that the overall rural sentiment is