Escorts gains; billionaire Jhunjhunwala raises stake

Shares in tractor maker Escorts close 3.8 percent higher after a company filing to stock exchanges shows billionaire investor Rakesh Jhunjhunwala raised his stake in the company to 5.47 percent from 4.89 percent he held as of the end of December.

Jhunjhunwala, referred to at times as India's Warren Buffett, bought 700,000 shares in the January-March quarter, the filing shows.


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    It is well accepted that falling global commodity prices, especially oil, have helped the Indian economy regain lustre in the past year or so.


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