Buy Escorts, target price Rs 1345: Motilal Oswal

Motilal Oswal has given a buy rating to Escorts with a target price of Rs 1345. The share price moved up by 1.16 per cent from its previous close of Rs 1285.50. The stock’s last traded price is Rs 1300.35.

Escorts Ltd., incorporated in the year 1944, is a Mid Cap company (having a market cap of Rs 17332.31 Crore) operating in Auto sector.

Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 1654.18 Crore, up 51.86 % from last quarter Sales of Rs 1089.26 Crore and up 24.02 % from last year same quarter Sales of Rs 1333.77 Crore Company reported net profit after tax of Rs 228.23 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 40.25 per cent stake in the company as of March 31, 2020, while FIIs held 19.28 per cent, DIIs 9.94 per cent and public and others 30.5 per cent.