Stocks

Eicher Motors stocks: Buy Eicher Motors, target price Rs 4050: Religare Broking

Broking has buy call on with a target price of Rs 4050. The current market price of Eicher Motors is Rs 3846.5.

Eicher Motors Ltd., incorporated in the year 1982, is a Large Cap company (having a market cap of Rs 105292.76 Crore) operating in Auto sector.

Eicher Motors Ltd. key Products/Revenue Segments include Automobile – 2 Wheelers, Spare Parts & Components, Allied Products, Other Operating Revenue, Other Services, Scrap for the year ending 31-Mar-2022.

Financials

For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 3446.12 Crore, up 4.07 % from last quarter Total Income of Rs 3311.34 Crore and up 64.39 % from last year same quarter Total Income of Rs 2096.32 Crore. Company reported net profit after tax of Rs 576.88 Crore in latest quarter.

Investment Rationale
Among the top auto performers. Witnessed a fresh breakout from a consolidation range as well.


Promoter/FII Holdings
Promoters held 49.21 per cent stake in the company as of 30-Sep-2022, while FIIs owned 29.5 per cent, DIIs 9.93 per cent.

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