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Eicher Motors extends gain on strong December sales

 

Photo: Official Website of Royal Enfield

Photo: Official Website of Royal Enfield

 

  Eicher Motors has rallied 5% to Rs 22,851 on the BSE in intra-day trade, extending its four-session long gains, after the company reported a 42% jump in December motorcycle sales at 57,398 units. It had sold 40,453 units during the same month last year.

Sales of models with engine capacity of 350cc during the month increased 41% to 52,753 units against 37,475 units in December 2015. Models with engine capacity exceeding 350cc saw a 56% rise in sales at 4,645 units.

Exports more-than-doubled with 1,082 units being shipped in December 2016 compared to 416 in the same month a year ago.

On cumulative, the total sales for April-December 2016 increased 36% to 488,262 units.

Eicher Motors is engaged in manufacturing automobile products and related components. The Company also owns the Royal Enfield motorcycle business.

In one-week, the stock has outperformed the market by surging 13% from Rs 20,276 on December 26, as compared to 2.8% rise in the S&P BSE Sensex.

At 09:55 am; it was up 3% at Rs 22,430 against 0.38% decline in the benchmark index. A combined 20,371 shares changed hands on the counter on the BSE and NSE so far.