Rakesh Jhunjhunwala holds this top stock, see where Axis Securities has pegged its target price
Rakesh Jhunjhunwala holds 64 lk (4.75% stake) in Escorts worth Rs 900 cr. Jhunjhunwala trimmed 0.9 stake in Escorts last quarter. Jhunjhunwala believes that Tractor sales are only going to improve in coming years as the Government is focussed on improving standard of living in rural areas and Agri theme will benefit Escorts hereon.
Escorts reported a good set of numbers in Q3 FY21. Escorts’s total revenues stood at Rs 2017 crs in Q3FY21 (v/s estimate of Rs 2008 crs, higher by 0.5%) as compared to Rs 1633 crs in Q3 FY20: Reuters