 "Eicher Motors extends rally on brokerage upgrade")
Eicher Motors has rallied 7% to Rs 9,908, extending its previous day’s 8% surge, after brokerage houses have raised the price target on the stock by up to Rs 11,000.
“Eicher Motors was raised to "Buy" from "Hold" at Deutsche Bank by equity analyst B Rao. The 12-month target price is Rs 11,000 per share”, the Bloomberg report suggests.
UBS has kept ‘Buy’ rating on the stock with price target of Rs 10,600, added report.
Bhaumik Bhatia analyst at IDBI Capital “Buy” stays with price target of Rs 10,377 as the management remains confident on Royal Enfield volume traction led by continued net inflow despite aggressive capacity ramp up and strong launch pipeline starting from end CY15.
The stock opened at Rs 9,385 and touched a high of Rs 9,999, also its new lifetime high on National Stock Exchange (NSE). A combined 61,130 shares changed hands on the counter in first half-an-hour of trade on NSE and BSE.
“Eicher Motors was raised to "Buy" from "Hold" at Deutsche Bank by equity analyst B Rao. The 12-month target price is Rs 11,000 per share”, the Bloomberg report suggests.
UBS has kept ‘Buy’ rating on the stock with price target of Rs 10,600, added report.
Bhaumik Bhatia analyst at IDBI Capital “Buy” stays with price target of Rs 10,377 as the management remains confident on Royal Enfield volume traction led by continued net inflow despite aggressive capacity ramp up and strong launch pipeline starting from end CY15.
The stock opened at Rs 9,385 and touched a high of Rs 9,999, also its new lifetime high on National Stock Exchange (NSE). A combined 61,130 shares changed hands on the counter in first half-an-hour of trade on NSE and BSE.
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