We revised our volume estimate and factor 13%YoY growth for H2FY21 and 20% growth from H1 to H2 owing to significant farm mechanization and higher government participation. Escorts Ltd (EL) is the third largest Agricultural tractor manufacturer in India. It has strong presence in the north and west market, with an overall market share of 11.6% as on FY20. Tractor demand was robust across the country. Price realisation was very good as farmer's cash flow has been very strong....