Buy Eicher Motors, target price Rs 3500: Kotak Securities
Eicher Motors with a target price of Rs 3500. The current market price of Eicher Motors is Rs 3396.05.
Kotak Securities Limited recommended to keep stop loss at Rs 3340.
Eicher Motors, incorporated in the year 1982, is a Large Cap company (having a market cap of Rs 92788.01 Crore) operating in Auto sector.
Eicher Motors key Products/Revenue Segments include Automobile — 2 Wheelers, Spare Parts & Components, Allied Products, Other Operating Revenue, Other Services, Scrap for the year ending 31-Mar-2022.
Financials For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 4229.58 Crore, up 5.48 % from last quarter Total Income of Rs 4009.83 Crore and up 22.73 % from last year same quarter Total Income of Rs 3446.12 Crore. Company has reported net profit after tax of Rs 817.90 Crore in latest quarter.
Investment Rationale
Rising channel pattern with a higher high and higher low formation on daily scale signaling up move.
Promoter/FII Holdings Promoters held 49.17 per cent stake in the company as of 30-Jun-2023, while FIIs owned 30.28 per cent, DIIs 9.85 per cent.
