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Eicher Motors stock falls over 5% on 13% decline in Royal Enfield December sales

The large cap stock opened lower at 22,321 , down 3.72% on the BSE. The stock has fallen after three days of consecutive gain.

twitter-logo BusinessToday.In        Last Updated: January 2, 2019  | 10:48 IST
Eicher Motors stock falls over 5% on 13% decline in December sales

The Eicher Motors stock fell in early trade today after its two-wheeler division Royal Enfield reported a 13 per cent decline in total sales to 58,278 units in December compared to 66,968 units in December last year. The stock fell up to 5.65% to 21,873 level compared to its previous close of 23184 on the BSE.

The large cap stock opened lower at 22,321 , down 3.72% on the BSE.

The stock has fallen after three days of consecutive gain.

The stock has lost 23.41% during the last one year and fallen 5.13% since the begin of this year.

28 of 39 brokerages rate the stock "buy" or 'outperform', five "hold" , four "underperform" and two "sell", according to analysts' recommendations tracked by Reuters.

The stock is trading below its 50 day and 200 day moving average of 23,459 and 25,950.

Domestic sales stood at 56,026 units last month as compared with 65,367 units in December 2017, a dip of 14 per cent.

International sales rose by 41 per cent to 2,252 units in December, compared with 1,601 units in the same month previous year.  

Eicher Motors is a parent of Royal Enfield that offers middleweight motorcycles in India. Royal Enfield operates in India, and over 40 countries around the world. The company is engaged in manufacturing automobile products and related components.

The company operates in business verticals, including motorcycles, commercial vehicles and personal utility vehicles.

Meanwhile, the Sensex fell 132 points to 36,121, Nifty lost 52 points to 10,857. Of 30 Sensex stocks, 24 were trading in the red.

 Edited by Aseem Thapliyal

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