
Shares of Escorts Kubota Ltd ended nearly 4% higher after brokerage DAM Capital upgraded the tractor maker to buy from neutral. The brokerage assigned a price target of Rs 3,550 to the auto stock. Escorts Kubota shares closed 3.67% higher at Rs 3267 today against the previous close of Rs 3152.10 on BSE. Market cap of the firm stood at Rs 36,557 crore on BSE. Earlier, the stock rose 5.87% intra day to Rs 3337.35.
In terms of technicals, the relative strength index (RSI) of the Escorts Kubota stock stands at 26.2, signaling it's trading in the oversold zone. Escorts Kubota shares are trading lower than the 5 day, 10 day, 20 day, 50 day, 100 day, 150 day and 200 day moving averages.
Earlier, the share opened higher at Rs 3164.25 against the previous close of Rs 3152.10 on BSE. Total 0.48 lakh shares of the firm changed hands amounting to a turnover of Rs 15.68 crore on BSE. The share hit a record high of Rs 4422 on September 27, 2024 and a 52-week low of Rs 2647.45 on February 9, 2024.
Escorts shares zoomed 56% in two years and rallied 75% in three years. In the last one year, the stock gained 10.54% and climbed 10.13% on a year to date basis.
On the other hand, in mid December, Kotak Institutional Equities assigned a 'sell' rating with a target price of Rs 3,000 per share.
The domestic brokerage expects the domestic tractor market to clock mid-single-digit growth in 2024–25.