Neutral on Escorts, target price Rs 1354: Motilal Oswal

Motilal Oswal Financial Services has neutral call on Escorts Ltd. with a target price of Rs 1354. The current market price of Escorts Ltd. is Rs 1403.

Escorts Ltd., incorporated in the year 1944, is a Mid Cap company (having a market cap of Rs 18644.25 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.