Eicher Motors Nov Sales Lived Up To Estimates

Eicher Motors, the Royal Enfield maker, informed that it sold 57,313 units under two-wheeler segment in November. That was a growth of 41 per cent as compared with 40,769 units sold in year-ago period. Nonetheless, on month-on-month basis, sales reduced 3.1 per cent from 59,127 units sold in October. The company further added that it sold 52,359 units of models with engine capacity up to 350cc, a growth of 40 per cent and 4,954 units of models with engine capacity which exceeds 350cc, up 49 per cent on yearly basis. Sales data met analysts' expectations. It was expected that November sales would grow 41 per cent to 57,500 units. Royal Enfield exports in November increased 222 per cent year-on-year to 1,470 units. Cumulative sales during April-November increased 35 per cent to 4.3 lakh units as compared with 3.19 lakh units sold in corresponding period of last financial year. Exports during the same period jumped 72 per cent to 9,492 units.

At 1.00 hours IST, the stock was quoting at Rs 22,259.00, up Rs 639.60, or 2.91 per cent. The stock opened at Rs. 21,750, touched the day’s high and low at Rs. 22,444 and Rs. 21,621. Till now, 17,370.05 shares were traded in the counter with a traded value of Rs. 28,818.67 lacs, as per the national Stock Exchange.

Eicher Motors share price met its yearly high value at Rs. 26,641.30 (29-SEP-16) whereas the 52 week low value is seen at Rs. 14,800.00 (19-JAN-16).

Eicher Motors is analyzed by Dynamic Levels as the top 500 performing stocks for this quarter among the 1700 stocks which are listed on the NSE.  Eicher Motors is fundamentally strong and is safe for investment, as per Dynamic analysts.

In order to know about the support and resistance levels of the scrip and also its fundamentals and financials, please a pay a visit to Eicher Motors  share price history.