Stock Market

Brokerage on Eicher Motors became bullish after the results, said – will get good returns on investment

Eicher Motors shares have seen a great rise today. The stock today strengthened in intraday and reached a price of Rs 2777. The stock had closed at Rs 2662 in the last trading session.

Eicher Motors shares have seen a great rise today. The stock today strengthened in intraday and reached a price of Rs 2777. The stock had closed at Rs 2662 in the last trading session. At present, after the quarterly results of the company, the sentiment regarding the stock has improved today. At the same time, after the results, the opinion of the brokerage house is also positive about Eicher Motors. Brokerage houses are bullish on the stock and are giving investment advice. Eicher Motors’ profit grew 8.7 per cent year-on-year to Rs 373 crore in the second quarter of FY 2022. At the same time, the company’s income has increased by 5.4 percent to Rs 2250 crore.

Uncertainty in the near term, better growth ahead

Brokerage house Motilal Oswal has given investment advice for the stock of Eicher Motors and has increased the target to Rs 3250. says that Eicher Motors has performed better in the September quarter. The issue which was also related to the supply chain, now it is improving. The volume performance is also expected to improve during 2HFY22. The company’s focus is on exports, while the revenue coming from accessories will also benefit further. The brokerage house has reduced its EPS estimate for FY22E by 5 per cent. The brokerage house says that there is uncertainty in the near term due to supply chain issues but better growth is expected in the future. The Classic 350 has been launched recently, while there are a few more new models in the pipeline that will benefit.

Global Brokerage Shares View

Brokerage house Credit Suisse has rated outperform in Eicher Motors. While giving investment advice, the brokerage house has given a target of Rs 3290 for the stock. Earlier the brokerage house had given a target of Rs 3080 for the stock. The brokerage, however, has lowered its EPS estimate for FY22.

While giving buy advice in the stock, Brokerage House Jefferies has given a target of Rs 3250. Earlier the brokerage house had given a target of Rs 3200 in the stock. The brokerage house says that the company’s 2Q EBITDA has declined by 9 percent on a year-on-year basis. However, brokerage house UBS has given a neutral rating on Eicher Motors and has set a target of Rs 2930 for the stock.

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