Trade Call: Rakesh Jhunjhunwala Portfolio Stock To Buy Next Week For TP Rs 3490

As of Friday's BSE closing session, Escorts Kubota Ltd., a large-cap company in the capital goods category, has a market valuation of Rs 33,402.52 Cr. Railway equipment, auto suspension and related products, and agricultural equipment are all produced and supplied by Escorts Kubota Ltd. Agri Machinery Products, Construction Equipments, Railway Equipments, and others are some of the segments through which it works. The division of Agri Machinery Products produces engines, gensets, tractors, lubricants, and agricultural solutions. Cranes, loaders, vibratory rollers, and forklifts are just a few of the construction and material handling equipment produced and sold under the construction equipment segment. The Railway Equipment division is responsible for producing railway components such as couplers, automatic twist locks, rail fastening systems, brakes, and brake systems.

Escorts Kubota Share Price Target

Buy range: 3030 - 3000, target: 3490, stop-loss: 2790, duration: 2-4 months

"On the daily chart, the stock price of ESCORTS has triggered a falling channel breakout and is trading above the 3000 mark. Technically, the short and medium-term moving averages (50 and 200 SMA) have triggered a positive cut, followed by the RSI oscillator, which has moved out of its range boundary (see chart). The channel target is in the range of 400 points. Technically, we expect a rally of 12-15% from the current levels, we recommend buying in the range of 3030-3000 levels with stop loss placed below 2790 for targets near the 3490 mark," said the brokerage firm IDBI Capital Markets & Securities Ltd.

Escorts Kubota News

According to a recent announcement from Escorts Kubota Limited, the Agri Machinery Business Division sold 8,587 tractors in March 2024 compared to 10,305 tractors in the same month last year. 8,054 domestic tractors were sold in March 2024 compared to 9,601 tractors in March 2023. Compared to 704 tractors sold in March 2023, there were 533 export tractor sales in March 2024.

"The shift in Chaitra Navratri festival to April this year and last season's erratic monsoon patterns and resultant low water reservoir levels have affected agricultural sentiments in central and southern regions resulting in delayed harvesting of rabi crops. Looking ahead, as early sings point to an above-average monsoon in FY25, we anticipate that demand will stabilize post-elections," said Escorts Kubota in a stock exchange filing.

In comparison to 606 machines sold in March 2023, Escorts Kubota Limited Construction Equipment Business Division sold 662 units in March 2024, a 9.2 per cent growth.

"The ongoing Government focus on improving infrastructure has laid a strong foundation for sustained growth in the industry. Going forward, we expect the similar demand momentum to continue in FY25 too," said the company in a regulatory filing.

Rakesh Jhunjhunwala Stake In Escorts Kubota

As per the data available on BSE for the quarter ended December 2023 or Q3FY24 Rekha Rakesh Jhunjhunwala wife of late ace investor Rakesh Jhunjhunwala held 17,90,388 shares of the company in her portfolio which is 1.62% of the total paid-up share capital of Escorts Kubota.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.