ICICI Direct recommended hold rating on Eicher Motors with a target price of Rs 21250 in its research report dated February 12, 2019.
Motilal Oswal is bullish on Eicher Motors has recommended buy rating on the stock with a target price of Rs 23,960 in its research report dated February 11, 2019.
The breadth of the market favoured the declines with 782 stocks advancing and 904 declining while 379 remained unchanged. On the BSE, 1053 stocks advanced, 1371 declined and 125 remained unchanged.
Jefferies maintained its buy rating on Eicher Motors and slashed its target price to Rs 23,100 from Rs 27,100 earlier. The global investment bank also slashed its revenue estimates over FY19-21 by 2-6 percent.
In terms of Royal Enfield's quarterly performance, it registered volume decline of 5.9 percent on a YoY basis.
At operating level, consolidated EBITDA (earnings before interest, tax, depreciation and amortisation) declined for the first time in last eight years and margin fell below 30 percent for the first time since March quarter 2016.
Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 19 points or 0.17 percent. Nifty futures were trading around 11,086-level on the Singaporean Exchange.
We recommend selling the stock between CMP and Rs 20500 for the target of Rs 18400, and keep a stop loss at Rs 21000 on a closing basis.
Net Sales are expected to increase by 10.3 percent Y-o-Y (up 3.9 percent Q-o-Q) to Rs. 2,502.9 crore, according to Motilal Oswal.
CLSA said it has retained faith in franchise but recent volume trends are concerning. Royal Enfield has witnessed a sharp deceleration in its volume growth trajectory.
The breadth of the market favoured the declines with 577 stocks advancing and 1093 declining while 390 remained unchanged. On the BSE, 904 stocks advanced, 1529 declined and 164 remained unchanged.
The breadth of the market favoured the declines with 639 stocks advancing and 857 declining while 549 remained unchanged. On the BSE, 723 stocks advanced, 815 declined and 86 remained unchanged.
Traders can accumulate the stock in the range of Rs 23900–24000 for the target of Rs 25200 and a stop loss below Rs 23290, says Rupak De of Bonanza Portfolio.
Morgan Stanley continues to back growth at a reasonable price and believes the way to construct portfolio is to buy stocks of companies with the highest delta in return on capital
The general rule is that when a stock is trading below its 5-year PE, it usually indicates sluggish movement in price, which is further linked to earnings potential
Investec said channel checks suggest 'Twins' may contribute 4-6 percent to Royal Enfield's domestic volume by FY20/21 and Twins' launch should drive up share of higher engine displacement 2-wheelers.
The Concept KX, a V-twin Bobber concept motorcycle, was showcased by Royal Enfield at the annual trade show EICMA in Milan
Eicher Motors, on November 14, launched Continental GT 650 & Interceptor, which are large bikes from an Indian perspective.
Prabhudas Lilladher recommended Hold rating on Eicher Motors with a target price of Rs 23137 in its research report dated November 12, 2018.
We continue to exude confidence in the company on the back of its dominant position in bikes with engine displacement above 250cc and a shift in customer preference towards premium products. The recent correction have made valuations attractive
The company reported a 6 percent increase in consolidated profit after tax at Rs 548.76 crore in the second quarter ended September 30.