Shares of Eicher Motors rallied 5 per cent to Rs 2,714.15 on the BSE in Monday’s intra-day trade after the company’s Royal Enfield brand reported 43 per cent rise in month-on-month sales of 73,739 units in the month of December 2021.
The company reported its best-ever reading in last several months. On year on year (YoY) basis, the Royal Enfield sales grew 7 per cent from 68,995 units in December 2020.
The key highlight for the month was robust volume prints at Royal Enfield, sustenance of which could subside growth concerns at the Eicher Motors, ICICI Securities said in a note.
Tracking Stock
At 09:27 am; the stock was up 3.4 per cent at Rs 2,678.75 on the BSE, as compared to 0.51 per cent rise in the S&P BSE Sensex. It had hit a 52-week high of Rs 3,035.50 on January 22, 2021.
In the past one month, Eicher Motors has outperformed the market by surging 11 per cent, as against a 2.6 per cent gain in the Sensex.
However, in the past six months, it was up a per cent, as compared to 12 per cent rally in the benchmark index.
Tracking Units
With respect to year-to-date sales, Royal Enfield sold 360,898 units between April and December 2021, witnessing a decline of nearly six per cent when compared to 383,779 units sold during April and December 2020.
Exports, on the other hand, saw a sharp rise of 135 per cent during the same period with 55,695 units shipped from India as against 23,677 during the previous fiscal.
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