Eicher Motors

CLOSING BELL: The BSE Sensex gained more than 600 points from the day's low; Tech Mahindra, Bharti Airtel and auto shares were the other major gainers on Wednesday.

Management commentary suggests some raw material decline benefits along with price hike to come in effect from Q4FY23 onwards amid robust demand for its product profile .

Stocks to watch today: While Eicher Motors posted 62.4 per cent year-on-year (YoY) jump in the December quarter (Q3FY23) profit, Vodafone Idea's net loss widened 10.5 per cent YoY to Rs 7,990 crore

Total expenses rose 24.4% to 30.06 billion rupees, led by a 39% increase in the cost of raw materials and components

Auto industry has 'mostly overcome' semiconductor issue, says leader of Volvo Eicher Commercial Vehicles

CLOSING BELL: The NSE Nifty 50 declined 86 points to 18,105, and was up 4.3 per cent for the year 2022. Broader indices - the BSE Midcap and Smallcap outperformed in trades on Friday.

Stocks to Watch: Elin Electronics to debut today, the stock is likely to list on a quiet note.

Stark Future recently launched its first high performance electric motocross bike, the Stark VARG

Eicher Motors Ltd on Thursday said it will acquire a 10.35 per cent equity stake in Spanish electric motorcycle maker Stark Future for 50 million euros (over Rs 440 crore). The acquisition is part of a strategic collaboration in the electric motorcycle space with Stark Future SL, said Eicher Motors, the parent company of Royal Enfield, a mid-weight motorcycle manufacturer. The Board of Directors of Eicher Motors Ltd at its meeting held on Thursday "approved an investment of euro 50 million for a close to 10.35 per cent equity stake in Stark Future", the company said in a statement. With this investment, Eicher Motors will have a seat on Stark Future's Board, and will explore further opportunities to collaborate in the space of electric mobility, it added. The investment will pave the way for a long-term partnership in collaborative research and development in electric motorcycles, technology sharing, technical licensing and manufacturing, the statement said. Eicher Motors Ltd Mana

Muted domestic demand and margin pressure may weigh on the stock

CLOSING BELL: The NSE Nifty shut shop at 18,696, down 117 points. Broader indices - BSE Midcap and Smallcap bucked the trend, and were up 0.8 per cent and 0.7 per cent, respectively, on Friday.

M&HCV segment witnessed mixed performance while LCV segment witnessed near double digit de-growth leading to overall de-growth in CV space.

Eicher Motors on Thursday said its joint venture with Volvo Group -- VE Commercial Vehicles -- posted 20 per cent rise in total sales at 4,903 units in November. VE Commercial Vehicles (VECV) sold 4,085 units in the same month last year, the company said in a regulatory filing. Domestic sales of Eicher brand of trucks and buses were at 4,483 units as against 3,184 units in the year-ago period, a growth of 40.8 per cent. Exports were down 69.7 per cent at 237 units from 783 units last year, it added. Total sales of Volvo trucks and buses grew 55.1 per cent to 183 units as compared to 118 units in the preceding year, it said.

Aims to disrupt intercity segment with fully-built luxury coaches

CLOSING BELL: Barring minor downtick in the Nifty Auto, FMCG, and PSU Bank indices, all other sectoral indices advanced on the bourses. The Nifty IT index led from the front with around 4% surge

The management also indicated at expansion in gross margins in coming quarters as input cost normalises with no production constraint as this point in time

Stocks to watch today: LIC, M&M, Adani Power, Hindalco Industries will report the July-September (Q2FY23) quarter results on Friday, November 11

Eicher Motors recorded a 56 per cent increase in revenue from operations at Rs 3,519 crore

CLOSING BELL: Hero MotoCorp, HDFC Bank, Kotak Bank, ONGC, Bharti Airtel, and Dr Reddy's Labs, meanwhile, eked out gains up to 2.6 per cent

Stocks to watch today: Tech Mahindra's net profit for Q2 FY23 was down 4 per cent at Rs 1,285 crore due to supply-side pressure; NCC received two new orders worth Rs 1,056 crore in October