Moneycontrol PRO

Hold Escorts Kubota; target of Rs 1550: CD Equisearch

CD Equisearch recommended hold rating on Escorts Kubota with a target price of Rs 1550 in its research report dated June 30, 2022.

June 30, 2022 / 05:57 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

CD Equisearch's research report on Escorts Kubota


According to a report by Arizton Advisory and Intelligence, the Indian tractor market is estimated to grow by CAGR of 5.8% during 2022-27 driven by growing adoption of precision farming which would be an important driver of tractor sales in India. By its estimate, 41-60 hp segment is expected to lead the market growth. It reckons that government strategies to enhance welfare of farmers by converting agriculture in to a viable activity are paving ways for new tractor sales. Further boost would come from increasing awareness of advanced agriculture equipment to improve hectare per yield, reduce overall cost of crop production and increase income centric inclination of farmers.


Outlook


Balancing odds, we retain hold rating on the stock with revised target of Rs 1550 (previous target: Rs 1750) based on 16x FY24e earnings.


More Info

Close

At 17:30 Escorts Kubota was quoting at Rs 1,442.15, down Rs 17.95, or 1.23 percent.

It has touched an intraday high of Rs 1,452.40 and an intraday low of Rs 1,400.00.

It was trading with volumes of 32,276 shares, compared to its thirty day average of shares, a decrease of percent.

In the previous trading session, the share closed down 4.79 percent or Rs 73.40 at Rs 1,460.10.

The share touched its 52-week high Rs 1,930.00 and 52-week low Rs 1,128.40 on 05 April, 2022 and 28 July, 2021, respectively.

Currently, it is trading 25.28 percent below its 52-week high and 27.8 percent above its 52-week low.

Market capitalisation stands at Rs 19,027.81 crore.

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: Jun 30, 2022 05:56 pm
Sections
ISO 27001 - BSI Assurance Mark