Moneycontrol

Budget 2021

Associate Partners:

  • SMC
  • Samsung
  • Volvo

Moneycontrol

Budget 2021

Associate Partners:

  • SMCSamsungVolvo
Webinar :Join an expert panel for a webinar on Smart investments for a secure retirement January 28, 2021. Register now!

Buy Escorts; target of Rs 1610: CD Equisearch

CD Equisearch bullish on Escorts has recommended buy rating on the stock with a target price of Rs 1610 in its research report dated January 05, 2021.

January 14, 2021 / 08:51 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

CD Equisearch's research report on Escorts


The Indian tractor industry has been benefited by structural reforms in Indian agriculture sector including easier availability of institutional credit, introduction of new agri schemes like Paramparagat Krishi Vikas Yojana, Pradhan Mantri Gram Sinchai Yojana and Sansad Adarsh Gram Yojana, increased budgetary allocations towards Pradhan Mantri Gram Sadak Yojana (PMGSY) and the Pradhan Mantri Awas Yojana-Gramin (PMAYG), farm loan waivers, greater impetus of GOI on doubling farm income by 2022 and direct cash benefit transfers. Increase in minimum support prices and approval of National Mission on food processing augurs well too for the Indian agrarian economy.


Outlook


Weighing odds, we assign a buy rating on the stock with a target of Rs 1610 based on 20x FY22e earnings over a period of 9-12 months.


For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Jan 6, 2021 12:25 pm

stay updated

Get Daily News on your Browser
Sections