Anand Rathi 's research report on Escorts
Despite the current challenges, we have seen faster revival in Escorts tractor business this quarter. Ahead, we believe its tractor business would grow in line with the industry, driven by strong rural demand across regions. With this, we expect demand to continue to grow in FY22. We maintain our Buy rating with a target of `1,326 (earlier 914).
Outlook
We maintain a Buy rating on the stock with a revised target of `1,326 (18x FY22e), earlier `914.
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