Eicher Motors Surges After November Exports More Than Triple
Eicher Motors November sales grow 41 percent year-on-year.
Shares of Eicher Motors Ltd. surged after the automaker reported 41 percent increase in total sales and over three-fold jump in exports for the month of November.
Total sales rose to 57,313 units compared to 40,769 units during the same month last year, the owner of the Royal Enfield brand said in its filing to the exchanges.
Sale of bikes up to 350cc soared 40 percent to 52,359 units compared to 37,455 units in November 2015.
Sales of models above 350cc grew 49 percent to 4,954 units as against 3,314 units in the year-ago period.
Exports Shine Again
The company’s exports were once again the bright spot with an over three-fold jump in November. The company exported a total of 1,470 units as against 457 units during the corresponding period last year.
Shares of Eicher Motors Ltd., gained as much as 3.81 percent to Rs 22,444 post the announcement.