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Royal Enfield maker Eicher Motors shares rose over 5.5% on May 25.
Eicher Motors posted an 11.58% YoY increase in Q4 profit, beating analyst estimates.
KEY POINTS
- Royal Enfield achieved its highest-ever annual sales at 1,227,977 units, a 22% YoY growth.
- The company announced plans for greenfield expansion beyond 2 million annual capacity after utilization neared 90%.
- Brokerages raised target prices, with Goldman Sachs setting the highest at Rs 8,400 and a 'Buy' rating.
- Current dealer inventory is at a low 7-8 days, indicating robust demand and low stockpile.
COMPANIES
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