Eicher Motors shares rise 5.5% to ₹7,362 after March quarter
Business
Eicher Motors, the company behind Royal Enfield bikes, saw its shares pop up by 5.5% to ₹7,362 after a solid March quarter and upbeat forecasts from analysts.
This boost means Eicher's stock is now in the green for the year.
Analysts 70%+ recommend buying Eicher Motors
Analysts are still pretty excited about Eicher's future: over 70% recommend buying the stock, with some even seeing it hit above ₹9,000.
HSBC is pointing to new plants and expansion plans as major growth drivers, while Goldman Sachs is highlighting labor and supply bottlenecks, lean inventory, and price hikes offsetting commodity pressure.
Elara Capital is especially confident, setting one of the highest targets on the street at ₹9,001.