Eicher Motors shares jumped six percent at market opening
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Eicher Motors Share Price: Indian stock market has fallen again today after a better start. Analysts are of the opinion that investors are adopting a cautious approach before the US Federal Reserve’s decision on interest rates this week. However, meanwhile, the stock of Eicher Motors is making waves in the market. Even within a short time of market opening in the morning, the company’s stock has seen a rise of about six percent. During morning trading, the company’s share price rose 5.9 percent to Rs 3,938.6. However, at 11.15 am the company’s stock is trading at Rs 3,916.70, up 5.38 percent or Rs 199.85. Today the share opened at Rs 3,821.
What brokerage firm advises?
The brokerage firm has changed the tag of the company from neutral to buy amid the rise in the stock. Along with this, the target price has been increased from Rs 4300 to Rs 5000. On Tuesday, the company’s shares closed at Rs 3716.85. The market cap of the company is Rs 1.07 lakh crore. It is being told that Royal Enfield’s 450 cc is going to come. Due to this, investors in the market have turned towards it. According to analysis by global brokerage firm UBS, Eicher Motors is set to achieve domestic volume growth rate of 10% CAGR between financial years 2024 and 2026.
Also Read: Gautam Adani slipped 2 places in the list of rich, lost Rs 16,900 crore in one day
How is the stock’s performance?
Eicher Motors has given a return of 4.62 percent to investors in the last five days. However, it has given a return of 1.85 percent in one month. At the same time, the company has given returns of 13.30 percent to investors on six monthly basis and 32.07 percent on annual basis. A year ago, on March 20, 2023, the company’s stock price was Rs 2952.
,Disclaimer: Investing in stock market or IPO is subject to market risk. Before investing in any share, get complete information from a good financial advisor. We are not encouraging investment in any company.,
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