Buy Eicher Motors, target price Rs 3040: Emkay Global

Emkay Global has buy call on Eicher Motors Ltd. with a target price of Rs 3040. The current market price of Eicher Motors Ltd. is Rs 2577.15. Time period given by analyst is one year when Eicher Motors price can reach defined target.
Eicher Motors Ltd., incorporated in the year 1982, is a Large Cap company (having a market cap of Rs 70154.20 Crore) operating in Auto sector.

Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 2096.32 Crore, down -31.36 % from last quarter Total Income of Rs 3054.27 Crore and up 124.83 % from last year same quarter Total Income of Rs 932.39 Crore. Company reported net profit after tax of Rs 276.53 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 49.2 per cent stake in the company as of March 31, 2021, while FIIs held 28.8 per cent, DIIs 9.6 per cent and public and others 12.4 per cent.