Eicher Motors hits over three-month high, rallies 11% in one week

Analysts believe that worst is behind for Eicher Motors, the manufacture of premium motorcycle brand Royal Enfield (RE) in India, as it is taking promising initiatives to address the declining sales.

Shares of Eicher Motors surged for the fifth straight day and hit an over three-month high of Rs 20,067 apiece, up 4 per cent on the BSE on Thursday. The stock of the two-wheeler company was quoting at its highest level since July 5, 2019.

In the past week, it has rallied 11 per cent as compared to a 2 per cent gain in the S&P BSE Sensex. The stock hit a 52-week low of Rs 15,197 on August 26.

Analysts believe that worst is behind for Eicher Motors, the manufacture of premium motorcycle brand Royal Enfield (RE) in India,