NDTV | Updated On: July 03, 2014 12:32 (IST)
Shares in Eicher Motors, the manufacturer of Royal Enfield motorcycles, jumped as high as 11.16 per cent to Rs 9,090 after it reported a 83 per cent jump in its motorcycle sales for the month of June 2014.
Eicher Motors reported total motorcycle sales of 25,303 units in the month of June 2014, compared to 13,806 units in the same month last year.
Surjit Singh Arora, equity research analyst at Prabhudas Lilladher, told NDTV that Eicher Motors will do well mainly due to the two-wheeler story. “Royal Enfield doing pretty well. Despite their production ramp up, there is a waiting period for their product anywhere between 5-6 months,” said Mr Arora.
As of 11.25 a.m. shares in Eicher Motors traded 7.55 per cent higher at Rs 8,794.65 compared to 0.14 per cent gain in Nifty.
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