Eicher Motors shares gain nearly 5%; mcap rises by Rs 3,802 cr

Shares of Eicher Motors today rose by nearly 5 per cent after Royal Enfield, the two-wheeler division of the company, reported a 20.75 per cent increase in total sales in July.
The scrip went up by 4.65 per cent to settle at Rs 31,437.05 on BSE. During the day, it gained 4.96 per cent to Rs 31,532.35 -- its 52-week high.
On NSE, shares of the company jumped 4.73 per cent to end at Rs 31,504.80.
The company's market valuation also went up by Rs 3,802.09 crore to Rs 85,578.09 crore. Its market valuation is now more than that of Bajaj Auto and Hero MotoCorp.

Bajaj Auto's m-cap stood at Rs 81,688.31 crore, while that of Hero MotoCorp was at Rs 74,318.18 crore at close of trade today.
Royal Enfield, the two-wheeler division of Eicher Motors, today reported a 20.75 per cent increase in total sales at 64,459 units in July.
The company had sold 53,378 units in the same month last year, Eicher Motors said in a statement.
Exports during the month under review grew 4.16 per cent to 1,302 units as compared to 1,250 units in July 2016.