Eicher Motors hits fresh 52-week high, rallies over 11% on robust August sales

NEW DELHI: Eicher Motors rallied as much as 11.63 per cent to hit its fresh 52-week high of Rs 11,413.85 in intraday trade on Wednesday, a day after the company reported 65.87 per cent jump in total sales at 26,643 units in August.

The company's total sales in the corresponding month last year were at 16,062 units, it said in a BSE filing.

Domestic sales during the month stood at 26,121 units as against 15,708 units in the year-ago period, an increase of 66.29 per cent.

Exports for the month grew by 47.45 per cent to 522 units as against 354 units in the same month a year ago.

Total sales for the January-August period stood at 1,92,356 units, registering a growth of 81.44 per cent year-on-year.

In an interview to ET Now, Siddharth Lal, MD, Eicher Motors said: "For us, the market is still supply-constraint. We have a long order book of many months of motorcycles."

Commenting on company's current focus areas, he said: "In rich countries, it is very clear that the UK is our nucleus. That is where we were born, that is where the brand is from and we want to be successful in the UK. The UK does offer reasonable numbers. It is just that Royal Enfield, we think, should be strong in the UK. We are growing the franchise really well there."

At 2:56 p.m., the stock was trading at Rs 11,250.00 up 1025.75 or 10.03 per cent on the BSE. It hit a day high of Rs 11,413.85 and a day low Rs 10,224.