Tractor-maker Escorts share price that has climbed more than 46 percent in the last three months is expected to gain 15 percent more, a report by research firm Sharekhan has said.
Japan’ Kubota Corporation will raise its stake in Escorts to 14.99 percent through a preferential issue aggregating to Rs 1,872 crore further cementing its place in India, the world’s largest tractor market. The joint entity intends to attain global leadership in the farm-equipment sector.
Brokerage firm Sharekhan has a positive outlook on Escorts and expects a 15 percent upside.
The partnership with Kubota would provide the company an opportunity to gain market share in the medium term, driven by product launches across brands and increase the addressable market, it added.
News Source:- Moneycontrol