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Eicher Motors shares rise on Royal Enfield hopes

Source : REUTERS
Last Updated: Tue, Nov 20, 2012 07:17 hrs
Eicher

Shares in Eicher Motors gained 3.5 percent on hopes of strong demand at its two-wheeler unit Royal Enfield this festive season, dealers said.

Macquarie initiated its coverage on Eicher Motors on Monday with an "outperform" rating and set a target of 3,235 rupees.

Macquarie said it sees capacity expansion in motorcycles, market share gain in heavy trucks and the start of production of Volvo's medium-duty engines to be the key drivers of growth.

Eicher has a 50-50 joint venture in India with Volvo AB.


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  Cities   Price (10g)
  Chennai   Rs. 24500.00 (-0.33%)
  Mumbai   Rs. 25480.00 (-0.08%)
  Delhi   Rs. 25200.00 (0%)
  Kolkata   Rs. 25000.00 (0%)
  Kerala   Rs. 24400.00 (-0.41%)
  Bangalore   Rs. 24450.00 (0%)
  Hyderabad   Rs. 24580.00 (0%)
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