Market NewsSharekhan has confidence in Eicher Motors, said buy for a target of...

Sharekhan has confidence in Eicher Motors, said buy for a target of Rs 4100

The company also has a strong portfolio in the commercial vehicle segment. Apart from this, the company is continuously working on technology upgrade which will prove beneficial for it.

Domestic brokerage house Sharekhan is bullish on Eicher Motors . Sharekhan has given Buy rating to this stock in its research report which came on 1st September 2022 . Sharekhan has said in this report that the launch of Hunter 350 through new launches, better customization, better export opportunities and increasing customer interest towards the premium segment in the two-wheeler industries are some of the reasons that will go ahead.

Eicher will prove to be beneficial for Motors and the market share of the company will increase. Apart from this, Eicher Motors will also get the benefit of multiyear upcycle in the commercial vehicle industries. The company also has a strong portfolio in the commercial vehicle segment. Apart from this, the company is continuously working on technology upgrade which will prove beneficial for it.

Sharekhan says that during the financial year 2022-24, the company’s earnings will see an increase of 48.3 percent on a yearly basis. At the same time, the company’s EBITDA margin is expected to increase from 21.1 per cent in FY22 to 25.2 per cent in FY2024 during this period. On the basis of this analysis, Sharekhan has given a buy rating to Eicher Motors and has given a target of Rs 4100 for the next 12 months.

Let us tell you that in yesterday’s trade, the stock closed at Rs 3,422.10 with a gain of Rs 10.50, or 0.31 per cent, on NSE. The stock has an intraday high of Rs 3,469.00 while an intraday low of Rs 3,415.00.

The stock opened at Rs 3,451.00 in Friday’s trade while it closed at Rs 3,411.60 on Thursday. Presently the volume of the stock is 1,038,097 shares. The 20 day average volume of the stock is 1,258,822. The stock touched its 52 week high of Rs 3,512.75 on 25 August 2022 while it touched its 52 week low of Rs 2,110.00 on 07 March 2022. Currently, the stock is down 2.59 per cent from its 52 week high while it is up 62.17 per cent from its 52 week low. The company’s market cap is Rs 93,572.80 crore.

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