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<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>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.

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

The Covid-19 pandemic's third wave has had a minimal impact on production as well as demand, said automobile major <keyword id="44883" type="General" weightage="20" keywordseo="maruti-suzuki" source="Orion">Maruti Suzuki</keyword>. Notably, the third wave's disruption has been less severe than previous phases of the pandemic. In a conversation with IANS, Maruti Suzuki India's Senior Executive Director, Sales and Marketing, Shashank Srivastava said the company as well as the industry has coped well with the third wave. He pointed out that it took the company 90 days to reach from 0-to-6,000 units production per day during the first wave. "In the second wave, it took us only 18 days to reach this mark. We were able to recover in a short time as we had a good learning experience from the first wave which was implemented in the second wave," Srivastava said. "In the third wave, there has hardly been any disruption with respect to bookings, demand or even the supply chain." Last month, the auto major sold a total of 154,379 units which was lower than the off-take of 160,752 units reported in January 2021, on account of lower production. Furthermore, he cited that an easing in semiconductor supply issue. "You can see next (fiscal) year, the situation becomes much better than what we saw in the second half of this year. However, in terms of production, we will probably not be at 100 per cent production level even in this quarter." In January 2022, the company's total production of passenger as well as commercial vehicles rose to 161,383 units from 160,975 units manufactured during the corresponding month of last year. The global semiconductor shortage has been triggered by the Covid-19 pandemic-induced supply hurdles as well as healthy demand. Accordingly, the phenomenon has been blamed on the exponential rise in demand for personal electronics such as cellphones and laptops during the ongoing pandemic. On a technical basis, semiconductors play a critical part in the production of internal combustion engines. They are an integral part of all kinds of sensors and controls in any vehicle. The shortage has extended waiting periods along with escalated prices. On the cost pressure, he noted that even the higher vehicle prices have not been able to cover the rise in commodity prices. "Despite all these price increases, we still find that the commodity prices have been much larger." "The commodity prices increase in the last 1.5 years have been extremely high. The price hikes which have been undertaken by manufacturers including Maruti Suzuki are not sufficient to cover that and hence the stress on profitability for the auto industry continues." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/razorpay-goes-global-acquires-malaysian-fintech-startup-curlec/articleshow/89425343.cms">Razorpay goes global, acquires Malaysian fintech startup Curlec</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/interview-indias-latest-software-unicorn-is-wetting-its-feet-in-america-after-holding-its-horses-for-seven-years/articleshow/89409491.cms">INTERVIEW: India’s latest software unicorn is wetting its feet in America after holding its horses for seven years</a>

Third wave of COVID-19 has had very little impact on production as well as demand, says Maruti Suzuki

Maruti Suzuki, Aptus, Eicher Motors and other buzzing stocks to watch out for on August 24

<ul><li>At 7:45 am, the SGX Nifty was trading 0.42% lower, indicating a subdued start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to open on a weak note on Friday, led by negative cues from the Asian markets. At 7:45 am, the SGX Nifty was trading 0.42% lower, indicating a negative start for Nifty50. Other Asian peers were trading in the negative territory as well — the SSE Composite Index was down 0.40%, and the Hang Seng Index was down 1.56%. These are the stocks to watch out for during the trading session today: RIL The National Company Law Tribunal (NCLT) has approved a resolution plan for Reliance Infratel submitted by a group entity of Reliance Industries, according to a regulatory filing. Maruti Suzuki India Maruti Suzuki India said its total production in November increased by 5.91% to 1,50,221 units. NMDC The state-owned NMDC said that the long-pending issue of Donimalai iron ore mine in Karnataka had been resolved. The central government has reached an agreement with the Karnataka state government and the Ministry of Steel to extend Donimalai Iron ore lease. Eicher Motors Eicher Motors Volvo Eicher Commercial Vehicles has begun production at its new truck plant in Bhopal. State Bank of India A report by PTI indicates that the CBI, on Friday, carried out searches at three locations in Delhi after booking Jay Polychem (India) in an alleged ₹1,800-crore bank fraud in a consortium led by State Bank of India. ONGC ONGC Videsh, the overseas investment arm of state-owned Oil and Natural Gas Corporation (ONGC), has made a “significant” oil discovery in an onshore block in Colombia. OVL is the operator in the block with 70% stake and an independent oil and gas company focussed in Latin America, Geopark, has the remaining 30% interest. Likhitha Infrastructure Likhitha Infrastructure bagged order of ₹112.88 crores from IHB — a JV company of IOC, HPCL and BPCL for laying a pipeline in Gujarat. APL Apollo Tubes APL Apollo Tubes has set December 16 as the record date for shares split. The company earlier approved splitting each stock of face value ₹10 each into 5 equity shares of the face value of ₹2 each. Tata Consumer Products The step-down subsidiary of Tata Consumer Products, Earth Rules, Australia has entered into an asset sale and purchase agreement for the sale of its MAP Coffee Business to Buccheri Group. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/oxford-covid-19-vaccine-serum-institute-seeks-emergency-use-nod-for-covishield-vaccine-in-india/articleshow/79600349.cms" data-type="tilCustomLink">Oxford COVID-19 vaccine: Serum Institute seeks emergency use nod for Covishield vaccine in India</a> <a href="https://www.businessinsider.in/india/news/section-144-extended-across-noida-and-greater-noida-till-january-2/articleshow/79600323.cms" data-type="tilCustomLink">Section 144 extended across Noida and Greater Noida till January 2</a>

Top stocks to watch — RIL, Maruti Suzuki, NMDC, SBI, ONGC, Eicher Motors, Likhitha Infrastructure, Tata Consumer, and others

<ul><li>At 7:40 am, the SGX Nifty was down 0.58%, indicating a slow start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to start on a tepid note on Wednesday, led by mixed cues from the global markets. At 7:40 am, the SGX Nifty was down 0.58%, indicating a slow start for Nifty50. However, on Tuesday, the <a href="https://www.businessinsider.in/stock-market/news/sp-500-and-nasdaq-close-at-record-highs-as-investors-bet-that-a-vaccine-will-drive-an-economic-rebound/articleshow/79520724.cms">US stocks closed at record highs</a> as investors bet that a vaccine will drive an economic rebound. The Dow Jones Industrial Average closed 185.28 points higher, and the S&amp;P 500 was up 1.13%. These are the stocks to watch out for during the trading session today: Dr Reddy’s Laboratories Dr Reddy’s Laboratories and Russian Direct Investment Fund (RDIF) on Tuesday said they had commenced adaptive phase 2/3 clinical trials for the Sputnik V COVID-19 vaccine in India. The trials have commenced after receiving the necessary clearance from the Kasauli-based Central Drugs Laboratory, the company said. Hero MotoCorp Hero MotoCorp reported a 13.82% year-on-year rise in its domestic wholesale for November, led by a robust recovery in sales of its entry-level motorcycles in rural and semi-urban markets. The exports rose by 40.37% during the month. Eicher Motors Eicher Motors has registered a growth of 3.2% YoY in its November sales led by domestic sales of Eicher trucks and buses. TVS Motor TVS Motor sales grew by 21% registering 322,709 units in November 2020 as against 266,582 units in November 2019. Phoenix Mills Phoenix Mills (PML) and its subsidiaries have signed a non-binding term-sheet with an affiliate of Singapore’s sovereign wealth fund GIC for formation and development of to set up a retail-led mixed-use platform. The proceeds from the proposed transaction are intended to be utilized as growth capital for further expansion and acquisition of greenfield, brownfield, operational and distressed mall opportunities, Phoenix said in a statement. Coal India State-owned Coal India on Tuesday reported a 3.4% rise in production at 51.7 million tonnes (MT) in November. Reliance Power Reliance Power defaults on interest payments due on term loans from Axis Bank, Yes Bank and IDBI Bank. The company has a total financial indebtedness of ₹1,360 crore. Praj Industries Tata Capital Financial Services sold 11.6 lakh shares in Praj Industries at an average price of ₹91.16/share. Burger King India Burger King India <a href="https://www.businessinsider.in/business/corporates/news/burger-king-grey-market-premium-and-heres-what-brokerages-say-about-the-ipo-opening-tomorrow/articleshow/79508730.cms">IPO opens for public subscription today</a>. The company has fixed the price band at ₹59-60 per share and is looking to raise ₹810 crore SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/heres-what-to-expect-from-maruti-mm-hero-bajaj-auto-in-november-car-bike-sales/articleshow/79489474.cms" data-type="tilCustomLink"> November auto sales estimates — Here’s what to expect from Maruti, M&amp;M, Hero, Bajaj Auto, and other automakers</a> <a href="https://www.businessinsider.in/india/news/centre-invites-agitating-farmer-unions-for-talks-on-december-1-two-days-ahead-of-a-scheduled-meeting/articleshow/79502391.cms" data-type="tilCustomLink">Centre invites agitating farmer unions for talks on December 1, two days ahead of a scheduled meeting</a>

Top stocks to watch — Dr Reddy’s Lab, Reliance Power, Hero Moto, Eicher Motors, TVS Motor, Phoenix Mills, Coal India, and others

<ul><li>According to various analysts reports, Eicher is slated to see a 63% revenue dip and over 90% fall in its profit.</li><li>The commercial vehicle segment declined 84%, with no sales in April. </li><li>For the first time since its renaissance in 2008, <keyword id="94237" type="COMPANY" weightage="20" keywordseo="Royal-Enfield">Royal Enfield</keyword> has witnessed a demand weakness, the management said.</li></ul>A massive drop in the sales of <keyword id="80296" type="COMPANY" weightage="20" keywordseo="Eicher-Motors">Eicher Motors</keyword>’ is all set to pinch the company’s first quarterly earnings on Thursday (August 13). The overall industry is already suffering from slowdown due to BS6 transition and a weak economy, “Covid-19 pandemic has further worsened the situation,” the management admitted during its last investor call The company also does not expect any normalcy in sales numbers until the first half of this fiscal year. The COVID-19 induced pessimism around public transport has also impacted sales of new buses, a segment that Eicher motors excel in. Adding to its woes, the lockdown forced labourers and drivers to return to their villages, weighing on the economy as well as impacting the supply chain and operations. And, that is already reflective in its last quarter sales number. The commercial vehicle segment declined 84%, with no sales in April. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Segment </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q1 FY20 </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Growth % </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">VE Commercial Vehicles </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2100 </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-84% </td></tr></tbody></table> Eicher’s business was not immune to the slowdown either. Various analyst reports expect this to take a toll on its profit and revenue. The company is likely to see a 63% revenue dip and over 90% fall in its profit in its first-quarter earnings. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Expected revenue growth </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Expected profit growth </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Prabhudas Liladher </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">68% </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">89% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Direct </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">66% </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">97% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nirmal Bang </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">63% </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">86% </td></tr></tbody></table> For the first time since its renaissance in 2008, Royal Enfield has witnessed a demand weakness, the management said. Although they further added that the love for its premium bike Royal Enfield had brought back its customers in the market. But the lost sales in April have already dragged down the overall numbers. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Segment </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q1 FY20 </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Growth % </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Royal Enfield </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">57,300 </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-69% </td></tr></tbody></table> “We believe new products would help expand the addressable markets and drive the next phase of growth for RE,” said Motilal Oswal report dated June 14. However, due to continuous market challenges, the company refrained from launching new products. Despite the challenges, the share price has held its momentum, with some help from the stock split announcement. Since the beginning of the first quarter, the stock has jumped almost 65% to date. <div type="image" title="Eicher share" msid="77497393" hostid="261"></div> SEE ALSO: <a href="https://www.businessinsider.in/thelife/news/meet-kamala-harris-joe-bidenaposs-pick-for-vice-president/slidelist/77495266.cms" data-type="tilCustomLink">Meet Kamala Harris, Joe Biden's pick for vice president</a> <a href="https://www.businessinsider.in/india/news/central-vista-project-3-firms-qualify-for-submission-of-financial-bid-for-new-parliament-building/articleshow/77496431.cms" data-type="tilCustomLink">Central Vista project: 3 firms qualify for submission of financial bid for new Parliament building</a>

The power of Eicher’s iconic Royal Enfield to keep profit engine running will be tested

<ul><li>At 7:49 am, the SGX Nifty was trading 0.20% down, indicating a lower start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Amidst mixed cues from the Asian market, the Indian stock market is likely to open on a muted note. At 7:49 am, the SGX Nifty was trading 0.20% down, indicating a lower start for Nifty50. Whereas other Asain stocks were trading in green — with Hang Seng trading 1.45% higher and Australian stock market also up 2% at 7:50 am. These are the stocks to watch out for during the trading session on October 5: RIL Mukesh Ambani-owned Reliance Industries cleared yet another hefty cheque from <a href="https://www.businessinsider.in/business/news/reliance-retail-cashes-yet-another-hefty-cheque-mubadala-to-invest-6247-5-crore/articleshow/78430649.cms">UAE-based Mubadala</a> on Thursday. This is the fifth investment for Reliance Retail Ventures Limited. Reliance Retail continues to be valued at ₹4.285 lakh crore and has raised a total of ₹24,847.5 crore already. Along with that, Reliance Retail has also secured a deal with Singapore’s sovereign wealth fund GIC and global private equity firm TPG Capital. The company said GIC would invest ₹5,512 crore for a 1.22% stake, while TPG Capital Management will invest ₹ 1,838 crore in owning a 0.41% equity stake in the retail arm. The shares of RIL ended 0.24% lower on Thursday. TCS The IT giant Tata Consultancy Services (TCS) will be considering a buyback of shares of the company at a board meeting slated on October 7. The shares of TCS ended 2% higher on Thursday. HCL Tech IT services major HCL Tech announced a new partnership with IBM on Thursday to help clients accelerate their digital transformation by migrating mission-critical enterprise workloads to the IBM public cloud. The shares of HCL Tech ended 0.26% higher on Thursday. Vedanta The reverse book building process for buyback of shares to begin today. The process will remain open for public shareholders until October 9. The shares of Vedanta ended flat on Thursday. Solar Industries Solar Industries informed investors on Thursday that it has secured ₹409 crore order from the central government for supply of Multi-Mode Hand Grenade (MMHG). The shares of Solar Industries ended 1% higher on Thursday. ITI Limited ITI Limited also informed investors that it had signed a contract with the central government for the supply of Army Static Switched Communication Network (ASCON). The total value of the deal is ₹7,796 crore. The shares of Solar Industries ended 0.12% lower on Thursday. Dhanalakshmi Bank RBI approves an interim arrangement to form a new committee of directors of Dhanalakshmi Bank to exercise the powers of the bank’s MD and CEO till a new one is appointed. The shares of Dhanalakshmi Bank ended 0.81% higher on Thursday. Hero MotoCorp, Eicher Motors and other auto stocks Hero MotoCorp, Eicher Motors and other auto stocks will remain in focus during the trade today after auto companies posted robust sales recovery in September. The sales of two-wheeler giant, Hero MotoCorp was up 17% compared to the same period last year. Eicher Motors also reported a domestic sales growth of 1%. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/investors-must-brace-for-a-turbulent-october-in-the-stock-market-but-they-should-hold-on-for-a-strong-4th-quarter-finish-a-senior-wall-street-strategist-says/articleshow/78477243.cms" data-type="tilCustomLink">Investors must brace for a turbulent October in the stock market — but they should hold on for a strong 4th-quarter finish, a senior Wall Street strategist says</a> <a href="https://www.businessinsider.in/thelife/news/the-best-20-airports-in-the-world-for-2020-according-to-expert-reviewers/slidelist/78477301.cms" data-type="tilCustomLink">The best 20 airports in the world for 2020 according to expert reviewers</a>

Top stocks to watch— RIL, TCS, HCL Tech, Hero MotoCorp, Vedanta, Solar Industries, ITI and others

<ul><li>Indian stock market indices opened in green on Monday.</li><li>Sensex was trading 0.52% higher at 38,636.36; while the Nifty was up 0.57% at 11,436.65</li><li>These are the top stocks that are buzzing on D-street today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market indices, Sensex jumped over 200 points in early trade on Monday, led by gains in financial stocks amid firm cues from global markets. The BSE index was trading 0.52% higher at 38,636.36; while the Nifty was up 0.57% at 11,436.65. Kotak Bank was the top gainer in the Sensex pack, rising around 4%, followed by Asian Paints, HDFC duo, Tata Steel, IndusInd Bank, ICICI Bank and SBI. On the other hand, HCL Tech, Tech Mahindra, PowerGrid, Titan, Infosys and TCS were among the laggards. Eicher Motors gains 8% on the stock split date Eicher Motors gained over 8% as its stock split comes into effect from today. The board earlier approved a stock split of existing one equity share of the face value of ₹10 per share into ten equity shares of the face value of ₹1 each. ICICI Lombard up over 1% ICICI Lombard General Insurance gained nearly a percent during early trade hours on Monday after the company said it would acquire Bharti AXA General Insurance operations in a share swap deal. The shareholders of Bharti AXA will receive two shares of ICICI Lombard for every 115 shares of Bharti AXA, as per the share exchange ratio recommended by independent valuers. Minda Industries down nearly 3% Minda Industries shares slid nearly 3% after the company said it incurred a loss of ₹118.3 crore in the first quarter ended June 3. The revenue was down sharply from ₹1,439.7 crore to ₹417.1 crore in Q1. Balaji Telefilms opens 4% higher Balaji Telefilms shares gained nearly 4% after the government announced standard operating procedures (SOPs) for resuming shooting of films and TV programmes. Future Retail down nearly 4% The shares of Kishore Biyani-led Future Retail were down nearly 4% as the company faces a debt repayment deadline after missing an interest payment of $14 million in July. The 30-day grace period also ended on August 22. Reliance Industries up over 1% RIL gained nearly a percent after the company concluded amalgamation and merger amongst its wholly-owned subsidiaries Reliance Holdings USA into Reliance Energy Generation and Distribution. Merger entity Reliance Energy and Distribution has further merged into RIL. Union Bank gains nearly 3% Union Bank shares were up nearly 3% after the bank reported a 48.3% increase in net profit for the first quarter ended June 30. The bank’s total income grew by 101.2% YoY to ₹19,891.26 crore. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-on-monday-indiabulls-housing-finance-future-enterprises-ril-tata-power-dixon-tech-rossari-biotech/articleshow/77712262.cms" data-type="tilCustomLink">Top stocks to watch on Monday— Indiabulls Housing Finance, Future Enterprises, RIL, Tata Power, Dixon Tech, Rossari Biotech and more</a> <a href="https://www.businessinsider.in/policy/economy/news/tribute-to-arun-jaitley-from-finance-minister-nirmala-sitharaman-ahead-of-gst-council-meeting/articleshow/77713182.cms" data-type="tilCustomLink">Finance Minister Nirmala Sitharaman’s tribute to the late Arun Jaitley is also coming ahead of a tough GST Council meeting where states will ask for money</a>

Top stock movers on Dalal Street on Monday— Eicher Motors, ICICI Lombard, Future Retail, RIL, TCS, and more

<ul><li>The benchmark index Sensex was trading 0.32% higher at 38,493.24</li><li>The NSE Nifty was up 0.41% at 11,354.40. </li><li>These are the top stocks that are buzzing the D-street today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Domestic equity benchmark Sensex jumped over 100 points in early trade on Thursday led by gains in index majors TCS, Infosys and HUL amid firm cues from global peers and sustained foreign fund inflow. The benchmark index Sensex was trading 0.32% higher at 38,493.24; while NSE Nifty was up 0.41% at 11,354.40. These are the top stocks that are buzzing the D-street today: IndiGo’s parent Interglobe Aviation shares rallied nearly 8% during the morning tarde <keyword id="678811" type="COMPANY" weightage="20" keywordseo="Westbridge-Capital">Westbridge Capital</keyword>, a private equity firm bought 1.41% stake in India's largest domestic airline IndiGo for ₹559 crore through an open market transaction. Strides Pharma trading nearly 1% higher Strides Pharma promoters announced the acquisition of the 3.7% stake owned by Sequent Scientific. The acquisition of stake will be at ₹475 per share, and the transaction is expected to be completed in the next coming months. Ashok Leyland nose dived over 2% Hinduja Group flagship firm Ashok Leyland shares were trading nearly 2% lower after the company reported a consolidated net loss of ₹388.82 crore for the first quarter ended June 30. The company’s revenue from operations in April-June 2020 significantly declined to ₹1,486.04 crore as compared with ₹6,588.23 crore in the year-ago period. <keyword id="80296" type="COMPANY" weightage="20" keywordseo="Eicher-Motors">Eicher Motors</keyword> trading more than a percent lower Eicher Motors is slated to report its first quarterly earnings today. The share price was trading 1.07% lower during the morning trade as analysts expect the street is expecting a 63% revenue dip and over 90% fall in its profit in the first-quarter earnings. <keyword id="2797147" type="PERSON" weightage="20" keywordseo="Aurobindo-Pharma-shares">Aurobindo Pharma shares</keyword> decline 2.95% Despite posting a 22.8% rise in its net profit for the quarter ended on June 30, the shares of drugmaker Aurobindo Pharma declined nearly 3% in the early hours of trading. TCS, HCL Wipro and other tech shares rally during the morning trade IT stocks rallied after the Donald Trump administration announced certain exemptions in the H-1B and L-1 travel ban for those continuing employment with the same employer. All three major Tech companies’ shares were trading above 2% higher than the previous close. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-today-britannia-hero-motocorp-ashok-leyland-mm-financial-indiabulls-housing-and-more/articleshow/77516263.cms" data-type="tilCustomLink">Top stocks to watch today— Britannia, Hero MotoCorp, Ashok Leyland, M&amp;M Financial, Indiabulls Housing and more</a> <a href="https://www.businessinsider.in/tech/news/it-only-takes-50-tweets-to-find-a-troll-on-twitter/articleshow/77512151.cms" data-type="tilCustomLink">It only takes 50 tweets to find a troll on Twitter</a>

Top stock movers on Dalal Street today — TCS, HCL, Wipro, Ashok Leyland, IndiGo and more

<ul><li>Sensex on Friday opened on a positive note, with a healthy buying in healthcare, capital goods and energy stocks. </li><li>Nifty50 was trading nearly 51.10 points higher or 0.45% from its previous close.</li><li>Here’s a list of stocks buzzing on D-street today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market opened on a positive note on Friday with the BSE Sensex surpassing the 38,500-mark during the initial trade. Healthy buying was witnessed in healthcare, capital goods and energy stocks. Nifty50 was trading nearly 51.10 points higher or 0.45% from its previous close. These are the <keyword id="35164" type="PERSON" weightage="20" keywordseo="top-stocks">top stocks</keyword> that are buzzing the D-street today. IndiGo’s parent Interglobe Aviation shares trading over 2% lower during the morning trade The overall domestic air passenger traffic declined 83% to 21 lakh passengers in July. This led to domestic carrier Indigo’s shares coming under pressure. IndiGo’s passenger load factor in July was almost flat at 60.2%. However, its market share in July was up at 60.4% compared to 52.8% in June. Shares of its rival airline SpiceJet, was trading flat during the morning session. Hero MotoCorp declined nearly two per cent during the morning trade Shares of the country’s largest two-wheeler maker Hero was trading nearly 2% lower after the company posted a 95.38% decline in consolidated net profit at ₹57.78 crore for the first quarter ended June 30. The total income during the quarter under review declined to ₹3,119.22 crore as compared with ₹8,410.41 crore in the year-ago period. Eicher Motors declines 3% during the morning trade After reporting a consolidated net loss of ₹55 crore for the first quarter ended June 30, the shares of Eicher Motors were trading nearly 3% lower during the early trade. Bank of India trades nearly 2% lower The <keyword id="1922421" type="PERSON" weightage="20" keywordseo="Bank-of-India-shares">Bank of India shares</keyword> were trading nearly 2% lower after the board approved raising up to ₹8,000 crore by preferential issue, QIP, further public offer, etc. Cipla gains over 3% during the morning trade Cipla shares gain over 3% led by a rally in pharma stocks. Cipla is one of the companies in India manufacturing the antiviral drug Remdesivir. Glenmark Pharmaceuticals gains over 3% during the morning trade Shares of Glenmark Pharma was trading nearly 3% higher ahead of first quarter earnings due later today. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/stocks-to-watch-indigo-spicejet-hero-motocorp-bpcl-tata-steel-glenmark-pharma-eicher-motors-bank-of-india-hindalco/articleshow/77536933.cms" data-type="tilCustomLink">Top stocks to watch today—IndiGo, SpiceJet, Hero MotoCorp, BPCL, Tata Steel, Glenmark Pharma and others</a> <a href="https://www.businessinsider.in/business/auto/news/eicher-motors-registers-first-ever-net-loss-of-55-crores-in-at-least-a-decade/articleshow/77526012.cms" data-type="tilCustomLink">Eicher Motors registers first-ever net loss of ₹55 crore in at least a decade</a>

Top stock movers on Dalal Street today — IndiGo, Cipla, Hero MotoCorp, Glenmark Pharma and others

<ul><li><keyword id="94237" type="COMPANY" weightage="20" keywordseo="Royal-Enfield">Royal Enfield</keyword> maker <keyword id="80296" type="CITY" weightage="20" keywordseo="Eicher-Motors">Eicher Motors</keyword> posted a net loss of ₹55 crores for the quarter ended June 30. </li><li>The revenue from operation declined 66% to ₹818 crore during the quarter.</li><li>This is the first time in at least a decade that the company has registered a loss in its quarterly earnings. </li></ul>Royal Enfield maker Eicher Motors posted a net loss of ₹55 crores for the quarter ended June 30. The company had reported a net profit of ₹452 crore in the same period last year. The revenue from operation declined 66% to ₹818 crore during the quarter under review. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">April-June 2020 (YoY) </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-66% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Profit </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">112% </td></tr></tbody></table> This is the first time in at least a decade that the company has registered a loss in its quarterly earnings. “The last quarter has been challenging for the commercial vehicle industry with almost complete washout in the first two months of the quarter on account of the pandemic. Since the economic activity was impacted, the movement of goods and services was also severely impacted. As a result, the industry has witnessed one of the worst quarters with an overall volume decline of 91%,” said Vinod Aggarwal, MD, and CEO for the commercial vehicle segment.” The shares of the company ended nearly 2% lower at ₹ 21,671, while the benchmark index Sensex closed flat. <div type="image" title="Eicher share (1)" msid="77526002" hostid="261"></div> The coronavirus induced lockdown has taken a toll on automakers; the whole industry suffered a massive slowdown. And, Eicher business wasn’t immune to it either. The company’s massive chunk of revenue comes from the commercial vehicle segment; the sales came crashing down due to the shortage of labour and the pessimism around public transport. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors Segment </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q1 FY20 </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Growth % </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">VE Commercial Vehicles </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2100 </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-84% </td></tr></tbody></table> Its premium bike brand Royal Enfield also saw a massive decline of 69% in sales. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors Segment </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q1 FY20 </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Growth % </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Royal Enfield </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">57,300 </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-69% </td></tr></tbody></table> However, the company is quite positive about Royal Enfield's prospect. “From a business point of view, the initial consumer sentiment over the last two months has been very encouraging. Demand from semi-urban and rural towns have picked up well, and our network of studio stores across the country have been able to cater to this demand. There is pent up demand, and we are optimistic about stronger recovery once supply chain stabilizes,” said Vinod K. Dasari, CEO, Royal Enfield. The company also announced that its subsidiary VE Commercial Vehicles has entered into a business transfer agreement to acquire Volvo Group India's bus business for a cash consideration of ₹100.50 crore. "Post the completion of the transaction, VECV and VBI will consolidate their bus businesses into a newly formed bus division within VECV. This division will offer Volvo and Eicher branded buses, and will maximise synergies to capitalise on market opportunities," Siddhartha Lal, Chairman, VECV said. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-today-britannia-hero-motocorp-ashok-leyland-mm-financial-indiabulls-housing-and-more/articleshow/77516263.cms" data-type="tilCustomLink">Top stocks to watch today— Britannia, Hero MotoCorp, Ashok Leyland, M&amp;M Financial, Indiabulls Housing and more</a> <a href="https://www.businessinsider.in/tech/news/it-only-takes-50-tweets-to-find-a-troll-on-twitter/articleshow/77512151.cms" data-type="tilCustomLink">It only takes 50 tweets to find a troll on Twitter</a>

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