Escorts Share Price: Experts bet big on this Rakesh Jhunjhunwala portfolio share; should you buy?

Escorts Share Price: Escorts is one of the 39 Rakesh Jhunjhunwala portfolio stocks. The Big Bull owns 64 lakh Escorts shares (as per the Escorts shareholding available with the BSE), which is around 4.75 per cent of the net shares. As the auto sector is under the grip of Bulls, stock market experts have gone highly bullish on this Rakesh Jhunjhunwala shareholding stock and have advised both traders and investors to buy at around Rs 1320 levels for more than 12 per cent gains in 1-3 months.

Speaking on the Escorts share price target for both traders and investors, Sumeet Bagadia, Executive Director at Choice Broking said, "Escorts share price is in the consolidation phase and one can buy Escorts shares at around Rs 1320 for immediate target of Rs 1390. Once, the stock breaks this level then there can be fresh upside movement for up to Rs 1480 in next one month to three month time horizon." However, Bagadia recommended a strict adherence to the stop-loss, which he pegged at Rs 1260.

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Highlighting the fundamental strength of Escorts shares, Angel Broking research team revealed, "Escorts is a prominent tractor player domestically with market share in excess of 11 per cent. With rural India relatively less impacted due to Covid-19, record food-grain procurement by government agencies as well as better than expected Kharif crop in 2020, we expect the tractor industry will continue to outperform the larger automobile space in FY21. The company has also reported a strong growth of 25.7 per cent YoY in Q3FY21, which is expected to continue  into the fourth quarter driven by strong demand."