Eicher Motors Shares Surge 6% on Strong Q4 Earnings; Brokerages Maintain Buy Recommendations
मुख्य बातें
- •Eicher Motors shares surged 6% after reporting a 16% YoY rise in Q4 net profit to ₹899 crore and 13% revenue growth to ₹3,829 crore.
- •Royal Enfield’s domestic retail sales grew 9% and exports jumped 22% in Q4, driven by new models like Himalayan 450 and Classic 350 updates.
- •Brokerages including Motilal Oswal, ICICI Securities, and Jefferies maintained ‘Buy’ ratings with price targets between ₹4,500 and ₹4,750.
- •Analysts cited strong volume growth, premiumization trends, and brand loyalty as key positives, while warning of cost pressures and competition.
Shares of Eicher Motors Ltd, the parent company of iconic bike brand Royal Enfield, surged by nearly 6% on Wednesday after the company reported robust financial results for the fourth quarter of the fiscal year 2023-24. The stock closed at ₹4,250.50 on the National Stock Exchange (NSE), up from the previous day’s close of ₹4,022.05, reflecting strong investor confidence. The rally comes amid bullish analyst outlooks, with multiple brokerage firms upgrading their recommendations and price targets on the back of sustained volume growth and improved profitability.
