Faridabad based Escorts came out with solid revenue and
profit numbers. Both revenue and profitability increased year over year. The
volume growth in tractor sales indicate revival of tractor sales and
replacement cycle. The construction equipment business also showed positive
growth whereas railway business showed single digit growth.
The result clearly indicate that Escorts bucks the trend of
demonetization and their effort to
spread their wings across different geographies within India is working well. Company is well positioned to grow their revenue and
profitability moving forward.
It is advisable to invest in Escorts as it is expected that
the share price will move to 450 to 465 INR range in no time from current 400
INR level. Retail investor may pick the stock with 6 month view and
must stay away from F&O market.
Disclaimer: Contact your financial advisor before investing
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