This Jhunjhunwala-owned stock can rally another 21%: Analysts

Ace investor Rakesh Jhunjhunwala owns 4.75 per cent stake in Escorts as of December 2020 quarter

A strong outlook for the tractor industry, on the back of higher farm incomes due to better crop yields and prices, increasing mechanisation and government focus on infrastructure development, bodes well for the tractor-maker Escorts and Mahindra & Mahindra (M&M), according to analysts who see an up to 21 per cent upside in the former following its December quarter numbers.

Escorts, whose stock has rallied 152 per cent since its March low of Rs 527.10 on the BSE, posted an 83.4 per cent year-on-year (YoY) increase in its net profit at Rs 280.7 crore for the third quarter ended December