Synopsis
With Kubota’s entry, analysts are likely to ascribe a valuation similar to that of a multinational company (MNC) to Escorts.
ET Intelligence Group: Tractor maker Escorts is likely to undergo a stock rerating following a shift in the management control in a phased manner to Japan’s Kubota Corporation after the latter’s proposal to increase the stake to 53.5% from 9% through preferential allotment and subsequent open offer. The entry of a Japanese company at the helm is expected to improve product quality through technology innovation while retaining attractive price
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