Eicher Motors rises 3% post Q2 results; should you buy, sell or hold?

Shares of Eicher Motors climbed 2.7 per cent to Rs 3,676.25 on the BSE on Monday after the Royal Enfield manufacturer posted healthy September quarter results.

Its consolidated net profit increased by 55 per cent year-on-year (Y-o-Y) to Rs 1,016 crore, while total revenue from operations rose to Rs 4,115 crore in Q2FY24 as against Rs 3,519 crore in the year-ago period. 

Despite the competitive pressure, the company posted a healthy volume growth of 10.4 per cent Y-o-Y and marginally on sequential basis to 248,831 units which was supported by festive period and shift towards premium motorcycles.

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