Buy Escorts, says Pankaj Jain

Pankaj Jain of Sunteck Wealthmax Capital told CNBC-TV18, "Escorts has moved very substantially from levels closer to Rs 70-75 to about Rs 115-120. This quarter results were a bit tad disappointing. The results were not up to the market expectation, but I believe that stock would again come back in form and start its northward journey."

"The company has been talking bullish and during the press conference they said that 15-16 percent volume growth would be maintained. So overall if somebody wants to enter afresh in Escorts one can do so. I do not know about last 2-3 percent kind of thing, but overall stock should move upwards and we could expect a return of about 10-15 percent in next 2-3 months. So I would be a buyer in Escorts on any negative day," he added.