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.