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Tractor stocks in a fast lane ahead of others

Tractor stocks in a fast lane ahead of others
Tractor stocks in a fast lane ahead of others
The tractor volumes of M&M and Escorts grew by 69% and 79% year-on-year in August following robust offtake across states barring Bihar.

Synopsis

This is likely to help tractor makers such as Mahindra & Mahindra (M&M), the country’s largest tractor maker, and Escorts to retain their premium stock valuations.

Mumbai: Amid the macro-economic disruption caused by the pandemic, the country’s agriculture sector is emerging as an oasis. Better-than-normal monsoon rains, higher kharif sowing and expected higher crop yield will support farm income growth. This is likely to help tractor makers, including Mahindra & Mahindra (M&M) and Escorts, retain their premium stock valuations. Their stocks have gained 54% and 67%, respectively, over the last four
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