Escorts surges 8% on expectation of improvement in tractor sales

The stock hit a 52-week high of Rs 834 on Monday and has rallied 35 per cent in past one month, as compared to a 4 per cent decline in the S&P BSE Sensex.

Shares of Escorts surged 8 per cent to Rs 834 on the BSE on Monday, erasing their entire 4 per cent fall registered on Saturday on expectation of improvement in tractor sales. The stock surpassed its 52-week high of Rs 836 touched on Thursday January 30, 2020.

The government increased agriculture credit target to Rs 15 trillion for FY21. Total fund allocation for ministry of agriculture and farmer welfare as well as ministry of rural development increased to Rs 2.55 trillion in FY21.

Emkay Global Financial Services expects continued focus on agriculture and rural development will support government’s