Eicher Motors share price rises 3%, hits 52-week high after strong January sales
- Eicher Motors stock price has gained 12% year-to-date (YTD), and 16% in six months. Over the past one year, Eicher Motors shares have delivered 43% returns.
Eicher Motors share price rallied over 3% to a 52-week high on Monday after the company reported strong sales for the month of January 2025. Eicher Motors shares jumped as much as 3% to ₹5,550.00 apiece on the BSE.
Eicher Motors said that the total sales of its Royal Enfield motorcycles rose 20% to 91,132 units in January 2025 from 76,187 in the same month last year. Royal Enfield’s exports jumped 79% during the month to 10,080 units from 5,631 units, year-on-year (YoY).
Royal Enfield motorcycles models with engine capacity upto 350cc recorded sales of 78,815 units, a growth of 17% YoY from 67,620 units. Sales of models with engine capacity exceeding 350cc increased 44% to 12,317 units from 8,567 units, YoY.
VECV Sales
VE Commercial Vehicles Limited (VECV), a joint venture between Volvo Group and Eicher Motors, posted total sales of 8,489 units in January 2025, registering a growth of 20.1% from 7,066 units in the year-ago period.
The company sold a total of 8,322 Eicher Trucks and Buses in January 2025, a growth of 21.3% from 6,858 units sold in January last year.
Total domestic Eicher sales increased 21.1% to 7,872 units from 6,503 units, while total exports surged 26.8% to 450 units from 355 units, YoY.
Sales of Volvo Trucks & Buses declined 19.7% to 167 units from 208 units, YoY.
Should you buy Eicher Motors shares?
Eicher Motors stock price has gained 12% year-to-date (YTD), and 16% in six months. Over the past one year, Eicher Motors shares have delivered 43% returns.
“Eicher Motors stock has outperformed other auto stocks and we expect this outperformance to continue. On the technical chart, the higher top higher bottom formation looks intact and the trend remains positive,” said Ruchit Jain, Vice President, Equity Technical Research, Motilal Oswal Financial Services Ltd.
According to Jain, Eicher Motors stock has a support at ₹5,150 level, while the stock may test ₹5,750 - 5,800 levels on the higher side.
At 10:10 AM, Eicher Motors shares were trading 1.98% higher at ₹5,495.15 apiece on the BSE.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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