September volumes were better than estimates led by the new launch Hunter 350
Royal Enfield volume prints for the month September came in stellar, and were at a multi-year high in the recent past
Ambuja Cements stood at 100th position in the overall m-cap ranking with Rs 1.05-trillion market cap. Eicher Motors' market cap, meanwhile, touched Rs 1.01 trillion in the intra-day day
Eicher Motors also holds majority stakes in the commercial vehicle joint venture with Volvo - VE Commercial Vehicles
Eicher Motors said the appointment of a new CFO in his place would be intimated in due course. Meanwhile, Arunachalam will now join Cromptom Greaves Consumer as CFO, from September 5
Stocks to watch today: Titan plans to add 20 to 30 Tanishq stores over two to three years in the Middle East and North America; Nelco inked pact with Intelsat to provide inflight connectivity services
The company has stated that the appointment of a new CFO in his place would be intimated in due course
Ambuja Cements, Ceat, Eicher Motors, Pidilite Industries, Tata Chemicals, Torrent Power and Wockhardt are few of the prominent stocks holding on to the bullish outlook.
The market-cap of Eicher Motors touched Rs 95,135 crore in the intra-day trade, and is 5.2 per cent away from Rs 1-trillion mark
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Valuations, however, factor in the gains
The company's net profit soared 157.5 per cent YoY to Rs 610.66 crore in Q1FY23, while total income surged 64.4 per cent to Rs 3,446.12 crore.
Stocks to watch today: Apollo Hospitals, Trent, Aurobindo Pharma will report their June quarter results (Q1FY23) on Thursday, July 11; Bank of Baroda raised their MCLR rate by 5-20 bps across tenors.
Royal Enfield sold 186,032 motorcycles during the quarter, posting an increase of 52 per cent from 122,170 motorcycles sold over the same period in FY22
Eicher Motors on Wednesday reported over twofold increase in consolidated net profit to Rs 611 crore for the first quarter ended June 30, driven by robust sales in the international markets.
Stocks to Watch today: Cigarettes-to-hotels major ITC on Monday reported a 33.98 per cent year-on-year (YoY) jump in its consolidated net profit, which came in at Rs 4,389.76 crore
The stock has rallied nearly 20% in the past one month on expectation of a strong pick-up in demand on the back of upcoming new launches
Shares of TVS Motor and Eicher Motors have rallied up to 20 per cent each in the last one month as against a 6 per cent rise on the Sensex.
Analysts expect 2Ws to reflect strong volumes in Q2FY23 amid strong pent-up demand, and improved mobility in June quarter 2022 (Q1FY23)
Hero MotoCorp, Bajaj Auto and Eicher Motors need to cross their significant hurdles with aggressive volume for further gains to emerge.