Hold Escorts, says Ashu Madan

Ashu Madan of Religare Securities told CNBC-TV18, "I would say hold Escorts because after many years, it has broken out and given that kind of a movement. Obviously, we can talk about or we can argue about what has changed in the last two years. Obviously, there has been changes, they have been cutting costs, they have been entering new markets, they have been trying different things. But does that mean that suddenly for many years the stock was not even crossing Rs 200 and now it is at Rs 700, so does that mean that they have done 300 percent shift? It does not happen generally. But the kind of rerating happened to this stock."

"Probably what has happened is that we all realised that there are very few stocks where liquidity is chasing. So probably Escorts is one of them and the way it has rerated, it is now in very strong hands. If you want to shift to some other stock then I would say to stay with Escorts only," he added.