Eicher Motors Ltd Share Price – NSE  /  BSE

Automobile, Mid Cap

Royal Enfield today launched its premium modern roadster - the Royal Enfield Guerrilla 450.

Speaking about the Guerrilla 450, Siddhartha Lal, Managing Director - Eicher Motors said, “The Guerrilla 450 is our take on modern roasters, and we are super happy with how it has turned out. Themotorcycle is mechanically characterful, super sophisticated, and combines performance, versatility and confidence-inspiring handling. It is built on the same platform as the Himalayan, but tuned to roadsterperformance that makes it feel excitingly different when you ride it. The Guerrilla really brings out what roadsters were always meant to do. It is super responsive and absolutely gorgeous to ride at everyday speeds, and equally delightful when revved through its paces on full-gas. The engine, the chassis, the riding position, and the superlative handling of the motorcycle all come together to truly make it much more than the sum of its parts”.

The Royal Enfield Guerrilla 450 will also be called the Royal Enfield GRR 450 in most of the Latin American markets. The lineup features three variants - Analogue, Dash and Flash - and five vibrant colourways. Bookings in India open today at an introductory price of Rs 2,39,000 with test rides and retails beginning on 01 August 2024. In Europe as well, bookings begin today at a starting price of £ 4,850 MSRP in the UK and € 5,290 MSRP in Germany with retails expected to begin mid-August.

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Eicher Motors announced that the 42th Annual General Meeting (AGM) of the company will be held on 22 August 2024.

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The headline equity benchmarks traded near the flat line with small gains in early afternoon trade. The Nifty traded near the 24,150 mark after hitting the day’s low of 24,073.65 in morning trade. IT shares extended gains for the fourth consecutive trading session.

At 12:30 IST, the barometer index, the S&P BSE Sensex was up 38.64 points or 0.05% to 79,527.83. The Nifty 50 index rose 5.00 points or 0.03% to 24,148.85.

The Sensex and Nifty clocked an all-time high of 79,855.87 and 24,236.35, respectively in early trade.

In the broader market, the S&P BSE Mid-Cap index shed 0.42% and the S&P BSE Small-Cap index rose 0.22%.

The S&P BSE Mid-Cap and S&P BSE Small-Cap index hit an all-time high at 46,869.53 and 53,297.26, respectively.

The market breadth was positive. On the BSE, 2,080 shares rose and 1,707 shares fell. A total of 125 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 1.62% to 13.61. The Nifty 25 July 2024 futures were trading at 24,228.80, at a premium of 79.95 points as compared with the spot at 24,148.85.

The Nifty option chain for the 25 July 2024 expiry showed maximum Call OI of 37.1 lakh contracts at the 24,000 strike price. Maximum Put OI of 41.2 lakh contracts were seen at 23,500 strike price.

Buzzing Index:

The Nifty IT index added 1.67% to 37,483.95. The index rallied 5.86% in the fourth consecutive trading session.

Coforge (up 3.5%), Wipro (up 2.97%), Infosys (up 2.32%), Mphasis (up 2.09%), Tech Mahindra (up 1.48%), were LTIMindtree (up 1.42%), HCL Technologies (up 1.36%), Tata Consultancy Services (up 0.8%), L&T Technology Services (up 0.7%) and Persistent Systems (up 0.4%) edged higher.

Stocks in Spotlight :

Eicher Motors declined 0.23%. The company informed that it has sold 73,141 motorcycle units in June 2024, which is lower by 5% as compared with 77,109 units in June 2023.

TVS Motor Company fell 0.17%. The firm has recorded monthly sales of 333,646 units in June 2024 with a growth of 5% as against 316,411 units in the month of June 2023.

Hero MotoCorp shed 0.05%. The two-wheeler major sold 5,03,448 units of motorcycles and scooters in June 2024, which is higher by 15.20% as compared with sales of 4,36,993 units recorded in June 2023.

TD Power Systems rallied 2.31% after the company announced that it has received an order amounting to $9.28 million for gas turbine generators from a major US original equipment manufacturer.

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While sales of motorcycle models with engine capacity up to 350cc decreased by 10% to 61,465 units, sales of motorcycle models with engine capacity exceeding 350cc jumped by 38% to 11,676 units in June 2024 over June 2023.

The International Business recorded sales of 7,024 units in June 2024, down by 27% as compared with 9,614 units sold in the corresponding period last year.

Eicher Motors is the listed parent of Royal Enfield, the global leader in middleweight motorcycles. In addition to motorcycles, Eicher has a joint venture with Sweden's AB Volvo - Volvo Eicher Commercial Vehicles which operates in India's commercial vehicle space.

The two wheeler maker’s consolidated net profit increased 18.21% to Rs 1,070.45 crore on 11.87% rise in revenue from operations stood to Rs 4,256.04 crore in Q4 FY24 over Q4 FY23.

The scrip rose 0.02% to currently trade at Rs 4,635.70 on the BSE.

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