Tremendous rise in shares of Eicher Motors in the new year, sale of Royal Enfield became the main reason

The Indian stock market registered tremendous gains on the second day of the new year, January 2. In this positive environment, shares of Royal Enfield and commercial vehicle manufacturer Eicher Motors Limited attracted a lot of attention from investors. Royal Enfield’s impressive sales figures helped Eicher Motors shares shine in the market.

Eicher Motors stock performance

On January 2, Eicher Motors shares jumped 8% to ₹5,242.90, its 52-week high.

• Past Performance:
  • In January 2023, this share was at the level of ₹ 3,564.
  • The stock showed a gain of 16% in the year 2024.
  • From 2020 till now, this stock is giving positive returns every year.
• Analysts Opinion:
  • Out of 42 analysts, 21 have recommended buying.
  • 12 have advised “Hold”.
  • 9 analysts have recommended selling it.

Royal Enfield sales figures

Royal Enfield sales hit a record in December 2023, boosting Eicher Motors shares.

• Total Sales:
  • Royal Enfield sales grew 25% to 79,466 units in December.
  • In December last year, this figure was 63,887 units.
• Models up to 350 cc:
  • Sales in this segment increased by 25% to 69,476 units.
• Models above 350 cc:
  • Sales in this category doubled to around 9,990 units.
• Export:
  • Royal Enfield motorcycle exports doubled to 11,575 units compared to last year.
• Performance for FY 2023-24:
  • Total sales in the first nine months of the current financial year increased by 6% to 7.27 lakh units.
  • In the same period last year, this figure was 6.85 lakh units.

What makes Eicher Motors special?

• Popularity of Royal Enfield:
  • The brand’s reputation and increasing demand in the global market are boosting its sales.
  • The increasing sales of premium models with capacity of 350 cc and above is playing an important role in the company’s growth.
• Boom in exports:
  • The increasing demand for Royal Enfield in the international market is further strengthening the company’s global position.
• Stable Returns:
  • The positive performance of Eicher Motors shares every year makes it an attractive option for investors.

What to do for investors?

• Eicher Motors’ impressive sales figures and 16% growth in 2024 make it a strong investment option.
• According to analysts, this stock can give good returns in the long term.
• Keeping in mind the current market conditions, this stock is suitable for buying even at the level of ₹ 5,242.90.