Eicher Motors Stock At All-Time High As Motorcycle Sales Jump In November
The company's total motorcycles sale gained 13% year-on-year to 80,251 units.
![<div class="paragraphs"><p>Eicher Motors Ltd.'s Royal Enfield bike. (Source: pexels/Akash Talan)</p></div>](https://media.assettype.com/bloombergquint%2F2023-08%2F1de0bffb-4923-43b0-8c88-a7cfa073dff3%2FEicher_Motors_Ltd__s_Royal_Enfield_bike___Source_pexels_Akash_Talan_.jpg?rect=0%2C0%2C2828%2C1591&auto=format%2Ccompress&w=200)
Shares of Eicher Motors Ltd. touched an all-time high on Monday after its motorcycle sales rose 13% in November compared with the corresponding month last year.
November Sales
Total motorcycles sales gained 13% year-on-year to 80,251 units.
Exports rose 2% to 5,114 units.
The sales of models with engine capacity up to 350cc rose 13%.
Engine capacity exceeding 350cc sales jumped 24%.
![Eicher Motors Stock At All-Time High As Motorcycle Sales Jump In November](https://media.assettype.com/bloombergquint%2F2023-12%2F69d36f3b-13d4-4489-b997-e75fde1060bf%2FEICHERMOT.png?auto=format%2Ccompress)
Shares of the company rose as much as 2.48% during the day to Rs 3,987.65 per share on the NSE. It was trading 2.32% higher at Rs 3,981.40 apiece compared to a 1.48% advance in the benchmark Nifty 50 as of 11:12 a.m.
It has risen 22.9% on a year-to-date basis. The total traded volume so far in the day stood at three times its 30-day average. The relative strength index was at 74.
Twenty-five out of 44 analysts tracking Eicher Motors maintain a 'buy' rating on the stock, 13 recommend a 'hold' and six suggest a 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 20%.