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Both <keyword id="20204377" type="General" weightage="20" keywordseo="indices" source="keywords">indices</keyword>, <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> and <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> opened the day in red. As of 9:30 am, Nifty was down by 0.05% trading at 24,420.30 points, while Sensex was down by 0.15% and was trading at 80,254.37 points as of 9:30 am. All broad market indices opened the day in the green, except for Nifty 50, 100, 200, 500, and midcap and smallcap 50 opened in red. India VIX was up by 1.17%. Amidst sectoral indices, Bank, auto, metal, financial services, PSU, and <keyword id="61519" type="General" weightage="20" keywordseo="Private-banks" source="Orion">private banks</keyword> opened the day in the red. Continuing its momentum from yesterday, <keyword id="6912" type="General" weightage="20" keywordseo="Maruti" source="Orion">Maruti</keyword> opened the day in green and was up by 1.66%. Grasim, Divis Labs, Eicher Motors, and Britannia were the top gainers in early trade this morning. On the other hand, Mahindra and Mahindra, JSW Steel, Axis Bank, Dr. Reddy, and Kotak Bank were among the leading laggards. As Mr. Aditya Gaggar, Director of Progressive Shares, notes, "A strong rally in the auto counters helped the index end on trade at another record level of 24,433 yesterday. The index has breached its previous high convincingly by forming a big green candle and opening the door for further rallying towards the 24,520–24,600 zone. At the same time, 24,340 will be considered strong immediate support. BankNifty oscillates in a well-maintained range of 52,260–52,720; a breakout on either side is a must (mostly on the higher side, considering the strong uptrend). The auto segment ended its consolidation of over 2 weeks with a strong breakout indicating the resumption of its uptrend". "Post the strong breakout, follow-up buying was witnessed in the <keyword id="20421583" type="General" weightage="20" keywordseo="FMCG-segment" source="keywords">FMCG segment</keyword> which boosted our confidence to remain bullish on the sector (ITC is on the verge of a major breakout). Sugar counters regained their momentum and some of them have already given a strong breakout (Andhra Sugar and Dalmia Sugar) and some are at the cusp of a major breakout (Balrampur Chini and Renuka Sugar). We continue to remain positive in the <keyword id="20350923" type="General" weightage="20" keywordseo="Pharma-space" source="keywords">pharma space</keyword>", he continued. Shrikant Chouhan, Head of Equity Research, Kotak Securities noted that among sectors, the auto index gained over 2% while intraday profit booking was witnessed in select IT, oil, and gas stocks. "Currently, 24,300/80,000 would act as a key support zone for trend-following traders. We believe, that as long as the market is trading above it, the bullish sentiment will likely continue. On the higher side, 24,500 -24,600/80,500-80,800 would be the immediate resistance zones for day traders", he said.

Stock Market Today: Maruti, Grasim, and Eicher Motors take lead in early trade

<ul><li>Tata Motors reported a 4% fall in total domestic sales in April as compared to the same period last year.</li><li>Hero MotoCorp announced a dip of 5% in its total wholesales as it sold 3.96 lakh units in April against 4.18 lakh units last year.</li><li>Maruti Suzuki reported a growth of 6.5% in passenger vehicles, while TVS Motor announced a 4% rise in sales to 3.06 lakh units in April.</li></ul>Shares of automobile companies remained in focus on Tuesday after the April sales data of Tata Motors and Hero MotoCorp disappointed the street. At the same time, Maruti Suzuki, TVS Motor and Eicher Motor reported healthy growth in sales. Tata Motors reported a 4% fall in total domestic sales to 68,514 units in April as compared to 71,467 units during the same period last year. Total commercial vehicle sales of the automaker also dipped 27% to 22,492 units in April from 30,838 units last year. Also, its total wholesales declined 4% to 69,599 units as compared to 72,468 units last year. Following the weak sales, shares of Tata Motors fell more than 2% on Tuesday. Two-wheeler manufacturer Hero MotoCorp also reported a dip of 5% in its total wholesales — as it sold 3.96 lakh units in April against 4.18 lakh units last year. Shares of Hero MotoCorp were down more than 2%. Domestic sales for the two wheeler maker declined marginally to 3.86 lakh units in April 2023 from 3.98 lakh units in April 2022. But its exports slumped over 50% to 9,923 units from 20,132 units last year. The company said it expects the momentum to build up in the coming months on account of a combination of multiple factors, including a slew of new product launches, a healthy growth in the country's GDP and positive consumer sentiment. Maruti Suzuki, TVS Motor, Eicher Motors shine India’s largest carmaker Maruti Suzuki announced a good sales growth of 6.5% in passenger vehicles to 1.6 lakh units in April as compared to 1.5 lakh during the same period last year. It registered a 7% increase in total dispatches to dealers at 1.6 lakh in April. Its total sales including domestic and exports rose to 1.6 lakh units from 1.5 lakh units last year. As a result, shares of Maruti Suzuki gained 2.15% to ₹8,771. The automaker’s total domestic sales including PV, LCV and OEM stood at 1.43 lakh units as compared to 1.32 lakh units last year. Maruti Suzuki highlighted that it has been facing a shortage of electronic components while it has taken all possible measures to minimise the impact. Meanwhile, TVS Motor Company announced a 4% rise in sales at 3.06 lakh units in April 2023 from 2.95 lakh units in the same month, last year. TVS’ two-wheeler segment delivered a sales growth of 5% to 2.94 lakh units from 2.8 lakh units during the same period last year. Motorcycle volumes rose 10% to 1.52 lakh units from 1.39 lakh units. Scooter sales grew 5% to 1.07 lakh units from 1.02 lakh units last year. Reacting to the April sales numbers, shares of TVS rose 1.55% to ₹1,156 per share. Its electric vehicle, the iQube, reached a sales milestone of 1 lakh units. “The production for April 2023 was constrained due to AIS156 changeover and supply chain challenges, TVS Motor is confident of ramping up from the month of May 2023. The order book for TVS iQube continues to be very robust and TVS Motor will retain the growth momentum,” said the company in an exchange filing. At the same time, Eicher Motors reported a 18% on year jump in sales volumes of Royal Enfield motorcycles at 73,136 units against 62,155 units last year. Meanwhile, the international business of the company declined 49% to 4,255 units that were exported in April 2023 as against 8,303 units in April 2022. The models with engine capacity up to 350cc recorded 26% sales growth at 64,728 units as against 51,564 units in April 2022. Meanwhile, the sales of models with engine capacity exceeding 350cc dropped 21% to 8,408 units sold against 10,591 units in the same period last year. As a result, shares of the automaker rose 1.77% to ₹3,359 apiece. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[]]></cdata></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/the-world-need-welders-drivers-and-specialised-teachers-to-prepare-the-next-generation-for-a-new-world/articleshow/99927007.cms">Teachers in demand for a ‘new world’ as tech is all set of eat away jobs</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/7-out-of-10-indians-are-unable-to-identify-ai-voice-call-scams-and-half-fall-for-scams-with-monetary-losses/articleshow/99924644.cms">7 out of 10 Indians are unable to identify AI voice call scams, and half fall for scams with monetary losses</a>

Tata Motors, Hero MotoCorp stocks slip after April sales disappoint; Maruti Suzuki, TVS Motor, Eicher Motors rise

<ul><li>There is a consensus amongst analysts that FY24 would ring in high single-digit growth for the Indian automobile as well as auto component sectors despite export headwinds. </li><li>CareEdge expects two-wheeler and three-wheeler sales volumes to cross pre-pandemic levels in the next financial year. </li><li>Price hikes due to BS6 Phase 2 norms and inflationary pressures, El Niño and its impact on the rural sentiments will be amongst the key factors to watch out for in FY24. </li></ul>The Indian auto industry is expected to register sales volume growth of 7-9% in FY24, building on the robust momentum of FY23, according to a report by CareEdge. Passenger vehicle (PV) and commercial vehicle (CV) segments are both expected to drive growth in the next financial year, with the latter especially benefiting from the government’s thrust on capital expenditure. Despite a challenging global environment in FY23, Indian auto companies made the most of the first disruption-free year after the Covid-19 pandemic. Overall, domestic sales rose 21% year-on-year in the 11 months of FY23 when compared to the same period in FY22. Urban demand, festive sales and pre-buying due to the BS6 Phase 2 transition helped boost the overall volumes – once again driven by passenger vehicles and commercial vehicles – despite supply chain challenges and a semiconductor chip shortage, according to the research firm. Exports, however, registered a decline of 14% in the 11 months of FY23, largely on account of weakness in foreign markets. <cmsannotation type="cmsannotation" annotationid="Analysts expect high single-digit growth in FY24" comment="subhead" text="Analysts expect high single-digit growth in FY24">Analysts expect high single-digit growth in FY24</cmsannotation> There is a consensus amongst analysts that FY24 would ring in high single-digit growth for the Indian automobile as well as auto component sectors despite export headwinds. “The growth momentum is expected to continue after the robust demand seen in FY23, supported by favourable demand sentiments and various government initiatives for rural and urban development,” said Tanvi Shah, director, CareEdge. According to a report by ratings agency ICRA, the auto components industry is also expected to witness 5% to 8% growth in revenue in FY24, primarily due to strong demand from the domestic market. “Over the long term, opportunities in the electric vehicle market, premiumisation of vehicles, a focus on localisation, improved export potential, and changes in regulatory norms will result in healthy growth for auto component suppliers,” ICRA said. The ratings agency underlined that the rise in mobility due to the reopening of schools and offices, improved freight movement and purchases being pushed back due to elevated inflation should boost sales in FY24. “We believe, in the coming months, with a favourable base for both PVs and 2-wheelers till H1 FY24, maintaining current retail volume levels would help both the segments deliver 10%+ growth in FY24E,” said a report by ICICI Securities. <cmsannotation type="cmsannotation" annotationid="2W and 3W sales expected to rise to pre-pandemic levels" comment="subhead" text="2W and 3W sales expected to rise to pre-pandemic levels">2W and 3W sales expected to rise to pre-pandemic levels</cmsannotation> Sales in the two-wheeler (2W) segment have stagnated in the past three months due to factors like continued price hikes, hot inflation and weakness in rural demand. <keyword id="6359783" type="General" weightage="80" keywordseo="bajaj-auto" source="Orion">Bajaj Auto</keyword>, which depends heavily on exports, also bore the brunt of weakness in key foreign markets like Nigeria. Its exports declined to 45% of its total sales in February 2023, from 52% in January 2022. While the threat of El Niño still looms large and could play spoilsport for two-wheeler sales by affecting crop output and hence incomes in rural areas –traditionally a large market for 2Ws, analysts at CareEdge remain optimistic about not just 2Ws but also three-wheeler sales going into FY24. The ratings agency expects sales volumes in these two segments to cross pre-pandemic levels in the next financial year. <cmsannotation type="cmsannotation" annotationid="What to watch for in FY24 – steep price hikes, El Niño and rural sentiments" comment="subhead" text="What to watch for in FY24 – steep price hikes, El Niño and rural sentiments">What to watch for in FY24 – steep price hikes, El Niño and rural sentiments</cmsannotation> Analysts also underlined factors which could have a significant impact on the auto industry’s performance in the upcoming financial year, ranging from price hikes to weather. The implementation of BS6 Phase 2 norms from April 1, 2023 is expected to drive steep price hikes – leading automakers like <keyword id="42747" type="General" weightage="50" keywordseo="tata-motors" source="Orion">Tata Motors</keyword>, Hero MotoCorp,<a href="https://www.businessinsider.in/business/auto/news/maruti-suzuki-announces-price-hike-cars-to-get-costlier-by-1-1-from-today/articleshow/97022345.cms"> Maruti Suzuki</a> and Honda have already<a href="https://www.businessinsider.in/business/news/time-to-buy-your-new-hot-wheels-automakers-set-to-increase-prices-of-vehicles-to-meet-stricter-emission-norms/articleshow/98940916.cms"> announced</a> price hikes. The adherence to new emission norms, in addition to inflationary pressures, could lead to more price hikes down the road and “potentially affect demand”, according to CareEdge. El Niño could lead to a drier year and further dampen rural sentiments, which could delay the much-anticipated recovery in the two-wheeler segment and derail tractor sales. However, overall, the Indian auto industry looks well placed heading into FY24 – the passenger and commercial vehicle segments are expected to retain their momentum, while the two- and three-wheeler sales are expected to inch back to pre-pandemic levels. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/adani-group-stocks-stage-a-rebound-led-by-adani-enterprises-group-market-capitalisation-rises-by-22011-crore/articleshow/99084630.cms">Adani group stocks stage a rebound led by Adani Enterprises: Group market capitalisation rises by ₹22,011 crore</a> <a href="https://www.businessinsider.in/finance/news/npci-introduces-interchange-fees-on-upi-transactions-done-via-prepaid-payment-instruments/articleshow/99080455.cms">Will UPI payments now attract charges? Decoding NPCI’s interchange fee on UPI transactions via prepaid payment instruments</a> <a href="https://www.businessinsider.in/business/telecom/news/increased-competition-delayed-tariff-hikes-could-effectively-lead-to-a-jio-airtel-duopoly/articleshow/99065537.cms">Increased competition, delayed tariff hikes could effectively lead to a Jio-Airtel duopoly</a>

India auto sales seen rising 7-9% in FY24: Passenger & commercial vehicles to drive demand

<ul><li>Eicher has underperformed the Nifty Auto Index by 24% this period, while <keyword id="6359783" type="General" weightage="90" keywordseo="bajaj-auto" source="Orion">Bajaj Auto</keyword> shares are up 10%.</li><li>Competition has gone up in the mid-premium segment with the entry of <keyword id="52525" type="General" weightage="60" keywordseo="triumph" source="Orion">Triumph</keyword> and <keyword id="6357453" type="General" weightage="60" keywordseo="harley-davidson" source="Orion">Harley Davidson</keyword>.</li><li>Analysts divided on this face-off, as some bat for Bajaj while others stick with <keyword id="80296" type="General" weightage="90" keywordseo="eicher-motors" source="Orion">Eicher Motors</keyword>.</li></ul> Stock prices are a good indicator of all that’s likely to happen to a company in future and not just in the present. The diverging stock prices of two motorcycle majors – Bajaj Auto and Eicher Motors – are telling an interesting story. Over the last one month Bajaj Auto’s stock has rallied 10% while that of Eicher has risen by 3.3%, which is a modest increase in comparison. And the Nifty Auto Index has rallied by 5.2% in the same time. So what’s happening to makers of two-wheelers in India? Competition is on the rise in the mid-premium segment, where Eicher has been a leader so far with its iconic Royal Enfield offerings. Bajaj Auto has launched the Triumph Speed 400 which provides 39.5 bhp of power with a 398-cc engine. Bajaj Auto stock has gotten a power boost due to the positive reviews the Triumph Speed 400 has received. Compared to the Harley or RE’s <keyword id="6426894" type="General" weightage="60" keywordseo="himalayan" source="Orion">Himalayan</keyword> and 350-cc offerings, the bike offers higher power. Another two-wheeler major – Hero MotoCorp in collaboration with Harley Davidson – has launched the new X440 which provides 27 bhp power with a 440-cc engine. Both the bikes have received approximately 20-26K bookings since launch in early-July. Moreover, the Yezdi Adventure and the <keyword id="220906" type="General" weightage="50" keywordseo="jawa" source="Orion">Jawa</keyword> 42 Bobber have also added to the competition. Competition in the mid-premium range of bikes in India is growing by the day and this is impacting stock prices too. Jeffries, research house, points out that the Eicher, although up 5% in 2023, has underperformed the Nifty Auto Index by 24% in this period. The report adds that it is time to “buy” it as it sees limited impact from competition launching new bikes in the past month and a half. Like economists, analysts rarely agree on likely winners. While Jefferies has retained its faith in Eicher, BofA Securities has upgraded Bajaj Auto to a ‘Buy’ saying that FY25 looks promising for the company with new Triumph launches on the same platform lined up. “The product (Speed 400cc) clearly seems to be making a mark in large metro cities-design, specs &amp; price stand out.. Scrambler 400cc launch in a few weeks and export markets expansion will be added catalysts and drive volumes. Our workings suggests that Triumph could add Rs 150-250/ share value to valuations (base to bull case).” <cmsannotation type="cmsannotation" annotationid="Why eicher underperformance may be temporary" text="Why this may be temporary for Royal Enfield?">Why this may be temporary for Royal Enfield?</cmsannotation> Royal Enfield has sold 69K bikes per month in Apr-Aug in India and has interesting launches lined up in the near future to plug the gap in the ~400-cc power battle. Firstly, it has the <a href="https://www.businessinsider.in/business/auto/news/why-the-motorcycling-world-is-kicked-about-himalayan-450-which-will-launch-in-november-2023/articleshow/103795276.cms">new Himalayan launch</a> lined up – an adventure tourer which is expected to give 40 bhp of power, in-line with the new Triumph and the segment favourite, KTM 390. Channel checks also suggest that RE has not seen any significant impact so far, even in cities where Harley and Triumph bikes are available. “We factor RE total volumes (domestic + exports) of 76K/85K/95K in FY24E/FY25E/FY26E,” argues the Jeffries report. It adds, “We retain Buy on EIM with revised PT of Rs 4,150 (earlier Rs4,000), valuing RE at 25x FY25E PE (earlier 24x).” A wider portfolio to bank on Royal Enfield has a much wider portfolio than its competition in the premium biking segment. This offers buyers options at multiple price points to enter the segment – all the way from 350-cc to 650-cc. A new 650-cc bike, most likely to be called Shotgun 650, has also been spotted being road tested. Moreover, after the Himalayan 450, the market would expect RE to also upgrade its Scam 411 with the same engine. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Current Offering </td></tr><tr><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Triumph </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Speed 400 </td></tr><tr><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Jawa </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #000000 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">42 Bomber, Standard, Perak 350 cc </td></tr><tr><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Harley Davidson </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">X440 </td></tr><tr><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">RE (350 cc) </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #000000 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Hunter, Classic Bullet, Meteor </td></tr><tr><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">RE (650 cc) </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #000000 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Continental GT, Interceptor, Super Meteor </td></tr><tr><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">RE (400 cc) </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #000000 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Himalayan, Scram </td></tr></tbody><tbody></tbody><tbody></tbody></table> A report by Axis Securities, after RE delivered its first quarter results, says that, “While the acceptance of the competitive products could pose a threat to RE, the &gt;250cc segment itself could grow, thereby partially reducing the competitive intensity. Furthermore, the company has multiple products in the pipeline.” It too maintains a ‘Buy’ rating with a target price of Rs 3,800/share (From Rs 3,900/share). The next few launches in the mid-premium to premium segment will be eagerly awaited by the market and biking enthusiasts alike. The rising competition should offer more choice to the Indian consumer while the market will like to see which bike maker vrooms ahead.

You Searched For "Eicher Motors stocks" and got 4 results

Stock Market Today: Maruti, Grasim, and Eicher Motors take lead in early trade

Ira Alok Puranik

Tata Motors, Hero MotoCorp stocks slip after April sales disappoint; Maruti Suzuki, TVS Motor, Eicher Motors rise

Bhakti Makwana

India auto sales seen rising 7-9% in FY24: Passenger & commercial vehicles to drive demand

Rounak Jain

Game Of Thrones: Bajaj Auto and Eicher Motors headed for face-off in mid-premium bike segment

Abhishek Jha

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