The Volvo-Eicher Motors JV plans to invest Rs 650-700 cr on BS VI rollout, apart from a greenfield venture in Bhopal
Total revenue from operations declined to Rs 2,192.47 crore for the second quarter
Technical Calls by Gaurav Garg, Head of Research at CapitalVia Global Research Limited- Investment Advisor
The stock was trading 1 per cent lower at Rs 15,197, its lowest level since January 19, 2016, in the intra-day trade on the BSE.
Eicher Motors share price fell from the opening level of Rs 17,100 to Rs 16,176.20 during the day, ending at Rs 16,389
The company reported a 13 per cent decline in sales in the March quarter at 1,97,567 units.
Higher competition and more price hikes amid muted demand are near term headwinds
Analysts say that even after adjusting for loss in production after nine-day strike, the supplies to distributors have been on the weaker side
Dena Bank slipped 5 per cent to Rs 13.65, falling 24 per cent in past three trading sessions, skidding to its lowest level since April 30, 2003.
The stock is down by 4% at Rs 20,321, falling 12% in past two days and trading near its 52-week low of Rs 20,301 touched on October 4, 2018, in the intra-day deals.
Strong response to Jawa launches, muted volume growth to keep stock under pressure
The stock was up 2.4% at Rs 25,340, gaining 16% in one week after the complete workforce at the Royal Enfield manufacturer's Oragadam facility has called-off the strike.
Multiple headwinds have dented the company's September sales
Multiple headwinds had dented the company's September sales and a volume uptick is critical for the stock to be rerated
Presence in niche segment to keep earnings growth strong for Royal Enfield business
The stock up 5% to Rs 28,975 on the BSE after the company reported 25% YoY growth in its consolidated net profit at Rs 5.76 billion in June quarter.
Expansion in under-penetrated markets, new models to drive earnings
The company is targeting at selling around 950,000 units in 2018-19, against 820,000 units last year
Margins can be retained at industry-high levels of over 30%
Network expansion and new models will lead to Eicher's revenue and operating profit compounding at 25 per cent and 30 per cent respectively, over the fiscal 2017-2020 period