Rocket shares to buy: This Diwali buy Escorts shares for 27 pct gains in 12-months, says expert

Rocket shares to buy: The Diwali 2019 is fast approaching and people are busy finalising their investment options as this day is an auspicious one for making investments. According to the stock market experts, those who are planning to invest in shares this Diwali with a long-term view, can take a buy position in Escorts shares. The Escorts share price is currently oscillating around Rs 629 and by Diwali 2020 it is poised to touch Rs 800 per stock levels.

Elaborating upon the reason for being so bullish on Escorts shares Dharmesh Kant, Head of Retail Research at IndiaNivesh Securities said, "Good monsoon and rise in tractor sales is going to have a positive impact on the order book of Escorts. Apart from this, 7 per cent rise in the MPS is going to benefit the company. The Escorts company has a strong dealer network throughout North India, especially in Haryana, Punjab and Western UP."

See Zee Business Live TV streaming below:

Speaking on the technicals of Escorts, Dharmesh Kant further added, "The Escorts share price has corrected to the tune of 40 per cent and hence it becomes a good share to buy ahead of Diwali 2019 because both fundamentals and technicals indicate an upside movement in the Escorts share price." Asked about the buying levels and targets Dharmesh Kant of IndiaNivesh said, "One can buy Escorts shares at current market price for the target of Rs 800 per stock levels by Diwali 2020."

Note: Zee Business brings to you an exclusive line up of programming for Diwali 2019 with experts, insights & sharp acumen under Zee Business Damdar Diwali show. A Diwali treat for you! Starting soon from October 14 only on Zee Business.in.