What was the reason for the sharp rally in Escorts on 01 June?

Escorts stock was up 4% and this is a continuation of the rally in the stock that has been going on for some time now. For the month of May, Escorts reported domestic tractor sales of 6454 units compared to 6488 units in May 2019. In the last one month itself Escorts rallied nearly 32%. The stock is trading fairly close to its all time high price. Most analysts expect tractors to show the best recovery due to a good monsoon hopes and agriculture likely to be less impacted by the lockdown and the resultant economic weakness. The segment benefits from a bumper Rabi production too and that is good indication of rural income levels. The dual brand strategy of Escorts consisting of Farmtrac and Powertrac series, appears to be working well. It looks more like a secular uptrend on the stock.