UBS said it has raised the target PE multiple to 23x one-year forward, a 25 percent discount to the five-year average.
Net Sales are expected to decrease by 12.3 percent Y-o-Y (down 11.3 percent Q-o-Q) to Rs. 2,112.7 crore, according to ICICI Direct.
Eicher will enter BS-VI with five diesel and two CNG engines
Trends on SGX Nifty indicate a positive opening for the broader index in India, with a 21 points gain or 0.18 percent. Nifty futures were trading around 11,380-level on the Singaporean Exchange.
Motorcycles sales in September fell 17 percent year-on-year to 59,500 units, but exports jumped 191 percent to 4,642 units
The Nifty might have turned negative for 2019, but almost 60% of index constituents are in a bear grip as registered by the 'Death Cross' formation
With demand remaining weak and a subdued festival season in Maharashtra and Kerala, Elara cut FY20-21E EPS by 6-7 percent on volume and margin cuts.
Trends on SGX Nifty indicate a positive opening for the broader index in India, with a 37 points gain or 0.34 percent. Nifty futures were trading around 11,074-level on the Singaporean Exchange.
When a global recession arrives, the Indian economy would suffer as well, both due to the direct economic impact but more so on account of the indirect linkage via financial markets
ICICI Direct recommended hold rating on Eicher Motors with a target price of Rs 15875 in its research report dated August 01, 2019.
Motilal Oswal is bullish on Eicher Motors has recommended buy rating on the stock with a target price of Rs 19000 in its research report dated July 31, 2019.
While having an equal-weight rating, Morgan Stanely slashed its target for Eicher Motors by 20 percent to Rs 17,052 per share
Through this cost-effective initiative, the Eicher Motors’ controlled company hopes to tap into buyers in the rural corners of the country as demand in the urban centres starts to taper off.
Eicher Motors said the share of profit of joint venture (VE Commercial Vehicles) stood at Rs 20.85 crore in June quarter 2019, falling sharply compared to Rs 64.29 crore reported in year-ago.
Royal Enfield volumes declined by 19 percent YoY in Q1FY20 due to weak demand and high ownership cost.
946 stocks advanced and 776 declined while 382 remained unchanged on the NSE. On the BSE, 1207 stocks advanced, 1200 declined and 155 remained unchanged.
The top gainers from NSE include YES Bank which spiked 8 percent followed by Bajaj Finance, Bajaj Finserv, Eicher Motors and Indiabulls Housing Finance while the top losers are Vedanta, IOC, Britannia Industries, Bharti Airtel and Tech Mahindra.
Net Sales are expected to decrease by 5.4 percent Y-o-Y (down 3.6 percent Q-o-Q) to Rs. 2,410 crore, according to Kotak.
Net Sales are expected to decrease by 8 percent Y-o-Y (down 6.3 percent Q-o-Q) to Rs. 2,342.9 crore, according to Prabhudas Lilladher.
Domestic sales stood at 55,082 units in June as compared to 72,588 units in the year-ago month, a decline of 24 per cent, it said.
Domestic commercial vehicle sales tanked 24.7 percent year-on-year to 4,136 units and exports tumbled 55 percent to 366 units in June
Trends on SGX Nifty indicate a positive opening for the broader index in India, a gain of 57 points or 0.49 percent. Nifty futures were trading around 11,736-level on the Singaporean Exchange.