Rakesh Jhunjhunwala stocks: Angel Broking predicts upside move in this Big Bull-owned share; should you buy?

Rakesh Jhunjhunwala stocks: When you are not working, your money must be put to work. After going through Rakesh Jhunjhunwala portfolio of shares, one would see that Rakesh Jhunjhunwala net worth is on the rise as majority of the Rakesh Jhunjhunwala share holding has given upside move post-stock market rebound. Escorts share price is one such Rakesh Jhunjhunwala portfolio stock. In the last 12 trading sessions, Escorts share price has surged from Rs 1205.70 to Rs 1391.05 per share, around 15 per cent northward. In other words we can also say that it has surged more than 1 per cent in one trade session.

However, the upside momentum in Escorts shares is still not over. According to Angel Broking research team, Escorts stock price may further go upside and hit Rs 1573 per stock levels. The research team is bullish on the counter as the tractor industry is expected to pick further momentum post-COVID-19 lockdown.

"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," says Angel Broking research team.

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Rakesh Jhunjhunwala stocks holding in Escorts 
As per the December share holding data made public by Escorts, Ace Indian stock market investor booked partial profit in the Escorts shares by selling 12 lakh shares of the firm. The Big Bull booked profit in Escorts shares as the tractor maker stock had more than doubled from its March low of Rs 550.75 per share levels. Rakesh Jhunjhunwala now holds 64,00,000 shares, or 4.75 per cent, stake in the company. At the end of the September quarter, he held 5.64 per cent stake in Escorts.