Eicher Motors is trading higher by 6.5% to Rs 3,474, extending its previous day’s 7% rally, after the company has made an upward revision in its sales estimate for the current calendar year on back of strong demand for Royal Enfield products.
“Eicher Motors hopes to sell 175,000 units of Royal Enfield as against 150,000 projected earlier. By the end of next year it hopes to achieve sales of 250,000 units,” the Business Standard report suggests.
Meanwhile, the company has reported a better-than-expected consolidated net profit at Rs 98 crore against an average analysts estimate of Rs 85 crore for the quarter ended March 31, 2013 (Q1).
On standalone basis, its net profit surged over two-fold at Rs 97.20 due to strong volume growth and higher other income. It had posted a net profit of Rs 45.33 crore in the corresponding quarter last year.
The stock opened at Rs 3,334 and hit a new high of Rs 3,486 on NSE. A combined 51,177 shares have changed hands on the counter till early noon deals on NSE and BSE.
“Eicher Motors hopes to sell 175,000 units of Royal Enfield as against 150,000 projected earlier. By the end of next year it hopes to achieve sales of 250,000 units,” the Business Standard report suggests.
Meanwhile, the company has reported a better-than-expected consolidated net profit at Rs 98 crore against an average analysts estimate of Rs 85 crore for the quarter ended March 31, 2013 (Q1).
On standalone basis, its net profit surged over two-fold at Rs 97.20 due to strong volume growth and higher other income. It had posted a net profit of Rs 45.33 crore in the corresponding quarter last year.
The stock opened at Rs 3,334 and hit a new high of Rs 3,486 on NSE. A combined 51,177 shares have changed hands on the counter till early noon deals on NSE and BSE.
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