MONTHLY REPORT ON ESCORTS: 1st DECEMBER(SATURDAY)

FUNDAMENTAL ANALYSYS

Escorts standalone net profit rises 32.47% in the September 2018 quarter

Net profit of Escorts rose 32.47% to Rs 102.74 crore in the quarter ended September 2018 as against Rs 77.56 crore during the previous quarter ended September 2017. Sales rose 15.41% to Rs 1398.36 crore in the quarter ended September 2018 as against Rs 1211.69 crore during the previous quarter ended September 2017.

Escorts tractor sales jump 29% in October

Escorts Agri Machinery Segment sold 13,140* tractors in October 2018, registering a growth of 28.8% against 10,205 tractors sold in October 2017.

Total sales in October 2018 included domestic sales of 12,867 tractors and export of 273 tractors, higher by 28.7% and 33.8% respectively over October 2017.

In October 2018, sales to Nepal and Bhutan has been included in export which was earlier reported in domestic

ON 20TH NOV, Escorts announced that CRISIL has assigned the rating CRISIL A1+ in respect of Commercial Paper Programme of Rs 100 crore of the Company.

LAST 4 QUARTER PERFOMANCE BY COMPANY

 

ALL FIG IN CR. DEC 17 MAR 18 JUNE 18 SEPT 18
SALES 1205.03 1436.10 1511.29 1398.36
OTHER INCOME 8.20 22.56 16.98 22.12
OPERATING PROFIT 145.03 173.75 185.54 157.49
TAXATION 37.49 58.65 59.52 51.62
NET PROFIT/LOSS 91.98 112.54 120.70 102.74

 

 

 

Fundamentals
Market cap 8635 cr
Face value Rs. 10.00
Book value Rs. 181
52 Week H/L Rs. 1017.70/ 541
Dividend Payout 20%
Listed at NSE/BSE
P/E Ratio 24.88
Industry P/E Ratio 21.90
Website www.escortsgroup.com

TECHNICAL ANALYSYS

Stock has enjoyed its bull run from mid of June 2016 where it has started its bull run from the level of 175 and made its all time high of 1017.70 on 2nd MAY 2018 and after that it has been in correction face and till OCT 2018 it has corrected up to 61.80% of Fibonacci retracement level.

 After taking support of Fibonacci retracement level, stock has formed double bottom price pattern on daily chart and breakout of the pattern is above the level of 650 which stock has given on 1st Nov 2018 and after that stock has been trading in a consolidation move and trade in a narrow range for almost all of NOV 2018 but on last day of the month stock has given breakout of the consolidation range and also closed above the range breakout level.

 On weekly chart,

  • RSI is currently at 45.70 levels.
  • MACD is converging to give bullish crossover on weekly chart
  • +DI is above the ADX line and –DI is below the ADX line showing buying movement will likely to continue in coming trading session.
  • Momentum oscillator is also in the favor of bulls

From the above evidence, we conclude that stock may move up above the level of 710 and it may test 760-820 levels in the month of December with a stop loss below 640 levels

 Monthly Support and Resistance level

Resistance 1- 710              Support 1- 650

Resistance 2- 770               Support 2- 585

Resistance 3- 850                Support 3-540

 

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