Eicher Motors touches new high on strong June sales

The stock hit a record high of Rs 20,324, outperforming the market by surging 42% from its recent low of Rs 14,321 on April 21.

Shares of Eicher Motors were trading higher by 4% to Rs 20,313 on the National Stock Exchange (NSE) after the company reported a strong 48% increase in total sales in June at 37,341 units, as against 25,303 units in the same month last year.

The stock hit a record high of Rs 20,324 so far and has seen a combined around 90,000 shares changing hands on the counter on the NSE and BSE till 1245 hours.

Eicher Motors manufactures and markets the iconic Royal Enfield motorcycles. The stock has outperformed the market by surging 42% from its recent lows of Rs 14,321 on April 21, compared to a 1% rise in the CNX Nifty.

Eicher Motors and seven other companies were added to the MSCI India Index from May 29.