Eicher motors had a stock split of 1/10 and hits a 52 week high.
Eicher motors manufacturer of the iconic Royal Enfield has been creating buzz in the market for its stock split which will be bringing one of the most expensive stock in range for many buyers after the stock split. Well and the timing for the motorcycles and Heavy Vehicle manufacturer couldn’t have been better as market being already bullish on auto sector after the stock split Eicher motors was one of the most active stock today on Nifty 50.
Eicher motors moved up by 7 % after the pre-market session and hit a but settled down at week high of 2,368 only to close at 2,170.According moneycontrol sentiment analysis eicher motors still has a buying sentiment of 74%.
Eicher motors has been in news for their work on prototypes of a electric variant of Royal Enfield or its anticipated launch of Royal Enfield Meteor 350 which is scheduled for next month.
In Conclusion it can be said that market is currently bullish on Eicher Motors, but it is also true that Eicher Motors has Under preformed in this quarter and has been unable to get the sales that it was achieving in its reigning quarters . Which could be also due to fact that most popular segment of Royal Enfield which is one of the major sales driver for the company is a premium brand and does not offer any mid range of any of the economy variants which would be able to drive sales during these tough times.