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The Relative Strength Index of the stock stood at 48.68 on Tuesday.

“Foxconn is setting up a plant in Karnataka and going to employ 70,000 people and even larger companies from the west want to protect their supply chain. For us to truly benefit from what China might be going through right now, significant work needs to be done to shore up infra and improve manufacturing to the point where we are at par with China in many contexts.”

The majority of the brokerage firms remain positive on the issue, citing reasonable valuations, strong business models, robust growth prospects and attractive opportunities. However, being entirely an OFS is a key risk to the issue, according to analysts.

“In terms of the capital gains, the market is not expecting anything and in other words, it will clearly be a very big negative if they tinker with either short term and long term capital gains tax, or change the holding periods because equity is risk capital whereas fixed income by definition generates a fixed income and there is no upside or downside relatively speaking.”

As of 30-Sep-2022, promoters held 0.0 per cent stake in the company, while FIIs held 18.7 per cent and domestic institutional investors had 1.87 per cent.

The stock recently broke out from a rectangle pattern earlier in November on the weekly charts which helped Escort share price to touch fresh highs. Short-term traders who missed the rally can look at buying the stock on dips for a target of Rs 3,000 in the next 6 months, suggest experts.

“One needs to plan things in a way so that one invests in all markets, not equity alone. The moment you understand this concept that you are supposed to keep investing every month but not in equity all the time, you will become a far better investor than you can be otherwise.”

HEG: Buy | Target Rs 1125 | Stop Loss Rs 1025. Price has moved up after a range-bound action. Price is in an attempt of an upside breakout.

The stock quoted a 52-week high price of Rs 1485.95 and a 52-week low of Rs 1070.95.

A total of 40,064 shares changed hands on the counter till 10:30AM (IST)