Eicher Motors climbs 2% on management commentary

NEW DELHI: Shares of Eicher Motors climbed nearly 2 per cent in Wednesday's session after the management reassured the slowdown in sales was a temporary issue.

Talking to ET Now on Tuesday, Siddhartha Lal, CEO & MD, Eicher Motors, said despite a negative December sales numbers the company is poised to grow.

This was the second successive session when the stock gained.


"Our story is still intact. We are on the premiumisation trend. We are doing gorgeous things in India and in the world market. We have 850 plus stores," he said.

"We are getting back on track. In December, we had flushed as many 2018 bikes as possible. Of course, there are a few left in the market but the idea was to lower inventory so that we could flush out bikes and people wanted 2019 motorcycles," he added.

Highlighting the growth of the company, Lal said that the company had registered an outstanding growth over the last 10 years.

"We are the most profitable from a percentage perspective motorcycle, perhaps even automobile brand in the world," he said.

Shares of the company traded 1.20 per cent up at Rs 20,279 around 10:25 am.