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Hold Escorts; target of Rs 680: Geojit

Geojit recommended hold rating on Escorts with a target price of Rs 680 in its research report dated January 30, 2019.

March 07, 2019 / 02:45 PM IST
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Geojit's research report on Escorts

Escorts Ltd (EL) is the third largest Agricultural tractor manufacturer in India. It has a strong presence in the north and west market, with an overall market share of 11% as on FY18. Revenue for the Q3FY19 grew by 37%YoY in line with our estimates. This growth was largely led by 34%YoY in the tractor sales & 30%YoY from the construction business.


Considering the near-term pressure on margins, we tweak our EBITDA estimate by -20bps and value EL at 15x FY20E EPS with a revised target price of Rs680 and downgrade our rating from buy to Hold.

For all recommendations report, click here

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

Broker Research
first published: Mar 7, 2019 02:45 pm

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