📈 Eicher Motors Share Price Soars by 5% After Rating Upgrade 📈
Exciting action in the stock market has been seen following the trigger of the American Federal Reserve Bank’s policy. The focus is on the auto sector, especially Eicher Motors, which is experiencing a surge. Since the market opened yesterday (March 20), the stock has seen a 5% jump. This is because global brokerage firms have upgraded the stock’s rating and also increased the target price.
🏍️ Eicher Motors Limited: A Promising Outlook 🏍️
UBS, in their report on Eicher Motors, stated that the increasing competition in the premium segment is not attracting Royal Enfield customers. The volume ramp-up, which is lower than the expectations of Triumph and Harley Davidson, is profitable for the company. Royal Enfield is ready to launch new products in the 450cc segment in the second quarter of the financial year 2025.
💰 Stock Performance and Future Projections 💰
On Thursday (March 21, 2024), the share was trading at Rs 3,919, up by 1.17%. Brokers are hopeful that Royal Enfield’s domestic volume growth will outpace the industry. They expect a 10% annual growth rate in domestic sales for Royal Enfield in the financial years 2024-26. The domestic dimension of the industry is expected to grow at a rate of 6-7% CAGR.
Export growth is expected to increase by 25% in the financial year 2025-26, compared to 23% in the financial year 2024. EBITDA is expected to increase by 18% CAGR in the financial years 2024-26.
Stay tuned for more updates on Eicher Motors Share Price!
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