Eicher Motors has been reporting eye-catching revenue for the past few quarters. Recently, the company’s subsidiary, Royal Enfield, one of the most popular motorcycles in the country reported approximately 17% rise in its sales on YoY basis. The company believes that this is the best-ever monthly sales. Thanks to the sales team of Royal Enfield, the company managed to clear most of its BS III stock. The company’s plant in the state of Tamil Nadu is expected to start its production in next few months.
As per the market pundits, investors would focus on the Eicher stock since it is expected that the company would bring in good profits for its shareholders.
The Eicher stock sits in the club of expensive stocks. The stock is the top gainer in the Nifty Auto index in Monday’s trading session. It is trading higher by 0.4% at Rs 26,204 per share. The Eicher Motors futures contract of April series is also trading higher by 0.3% at Rs 26,226 per share. The stock gained nearly 28% in the past one year.
Other Auto stocks like Mahindra and Mahindra, Maruti, Tata Motors are trading in negative territory and dragging down the BSE Auto index. The automobile sector has been witnessing healthy growth in the country.
Eicher Motors Ltd is currently trading at Rs 26218.7, up by Rs 114.1 or 0.44% from its previous closing of Rs 26104.6 on the BSE.
The scrip opened at Rs 26164.1 and has touched a high and low of Rs 26299.55 and Rs 26164.05 respectively. So far 4153(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 71031.27 crore.
The BSE group ‘A’ stock of face value Rs 10 has touched a 52 week high of Rs 26601.95 on 29-Sep-2016 and a 52 week low of Rs 18006 on 24-Jun-2016. Last one week high and low of the scrip stood at Rs 26480 and Rs 25438.95 respectively.
The promoters holding in the company stood at 50.59 % while Institutions and Non-Institutions held 36.36 % and 13.05 % respectively.
The stock is currently trading above its 50 DMA.
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