Monday, 2 January 2017

Eicher Motors shares surge 5% after stellar Dec sales growth

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Shares of Eicher Motors gained nearly 5 percent intraday Monday after reporting solid sales growth for Royal Enfield in December despite currency demonetisation. Total Royal Enfield sales during the month grew by 42 percent to 57,398 units compared with 40,453 units sold in year-ago period while month-on-month growth was only 0.14 percent. Exports also surged 160 percent year-on-year to 1,082 units but fell 26.4 percent compared with previous month. Its sales for the nine-month period ending December 2016 grew by 36 percent to 4.88 lakh units on yearly basis.

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