Jefferies is bullish on these two 2-wheeler makers, sees up to 23% upside

Shares of Eicher Motors, the listed parent company of Royal Enfield, and TVS Motor Company were in focus and rallied up to 4 per cent on the BSE in Tuesday’s intra-day trade after overseas brokerage firm Jefferies said it prefer these two stocks over Bajaj Auto and Hero MotoCorp in two-wheelers (2W) segment.

Shares of Eicher Motors rallied 4 per cent to Rs 3,518.95 in intra-day trade today. Analysts believe time is ripe to buy Eicher Motors given alleviating competitive concerns, along with tailwinds of 2W demand recovery, industry premiumization and exports.

Rising competitive concerns have weighed on