Eicher Motors on fast track

Eicher Motors is literally on the fast road today. Hitting a new at Rs.16,895, the stock has been consistently hitting new highs since 27^th of Jan. The stock remains currently in the green, up over 2% at Rs.16,645 levels.

The stock is up on reports that its marquee brand, Royal Enfield, has raced past in sales for 2014, ahead of the iconic Harley Davidson. It sold over 3 lakh bikes, ahead of 2.67 lakh sales of Harley. While Harley’s worldwide numbers grew 3% that of Eicher rose 70%.

This great news apart, it released its monthly sales numbers for January showed a 43% (YoY) rise at 28,927 units. Exports for the month showed a 82% jump.

The company is scheduled to declare its Q3FY15 numbers on 13^th Feb.