After the phenomenal quarterly results of the Royal Enfield and Commercial Vehicles segments, Eicher Motor share price hike close to 6%. The highlights of its earnings were the substantial operational improvement in both Royal Enfield and CV business. This has led Eicher Motors Share Price and volume experience a superb boost.
Eicher Motors Share Price made the lifetime high as Royal Enfield reported the highest ever margin at 30.8%. Eicher Motor’s CV margin improved by 90 basis points YoY to 9.1% and the market share of CV business rose to 15.1 percent from 13.2 percent YoY. The Volvo-Eicher Commercial Vehicle is all set to launch more models in the lower tonnage segment. There is likely to be a structural downward shift in the average selling prices which could be offset by higher market share in the heavier trucks driven by the new Pro series.
Royal Enfield as a standalone business has registered a strong 70% growth in profit at Rs 337 crore and 42% in revenue on the yearly basis. Operating profit shot up by 68%, and margin has seen the increase of 480 basis points at 30.8%, which will probably inch up further given the economies of scale at the vendors' end and ramp up in capacity.
During the quarter, Eicher Motors has expanded Royal Enfield dealer network to 566 dealerships across the country and opened stores in Manila, Philippines, one of the biggest 2-wheeler markets globally. The stock experienced the volume boost of 2.66 times. Eicher Motors share price was trading at Rs. 22,465.65 with a rise of about 7%. The scrip touched the Intraday high of Rs. 22,499 and the intraday low of Rs. 21,599. The stock is identified by Dynamic Levels among top 500 performers. For details on the stock, check theEicher Motor share price history page of the website.
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