Budget 2020 is just a week away and market experts have already identified their favorite shares. If you want to earn good profits invest in shares that are fundamentally strong and have something from the perspective of Budget 2020. Zee Business Managing Editor Anil Singhvi spoke to Enoch Ventures’ Managing Director (MD) and Chief Executive Officer Vijay Chopra to know what he is putting his money on.
Vijay Chopra said that Agri space has very good potential as far as investments in stocks are concerned. He said that Budget 2020 is crucial for this sector and it is waiting for the mystery to unfold with the Budget 2020 announcement.
बजट 2020 से पहले इनॉक वेंचर्स के MD और CEO विजय चोपड़ा ने किस शेयर को चुना शानदार कमाई के लिए? जानें #BudgetMyPick में#Budget2020ZEE #UnionBudget2020 @AnilSinghvi_ @vijaychopra7 pic.twitter.com/yNSIXq8kh3
— Zee Business (@ZeeBusiness) January 24, 2020
Escorts is one of the oldest shares tradings in the Indian stock markets and is also one of the major players in the Agri space, Chopra said. He said that Escorts is one of the top producers of tractors and earthmovers with a very strong market presence, especially in North Indian.
The CEO said that he was expecting some big-ticket announcements on the agriculture sector in the Budget 2020. This will have a direct impact on Agri and Agri-related companies, he said.
The shares of Escorts which are currently trading around Rs 713 should achieve a target price of Rs 850 if the investors take a one-year view of the company, Chopra said. He recommends a Buy on the Escorts shares. It is a very strong company and has had a strong financial position over the last few years, he added.
Chopra said that this was the right time to take Escorts shares to get the upside of around Rs 150.
The Finance Minister Nirmala Sitharama will be presenting her first full Budget 2020 on 1 February.
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The company will be declaring its quarterly earnings results for the December quarter on 29 January, it had said in an exchange filing.