Chandan Taparia of Motilal Oswal Securities has a buy call on Eicher Motors Ltd. with a target price of Rs 20000.0. The current price of Eicher Motors Ltd. is Rs 18982.3 Time period given by the analyst is Intra Day when Eicher Motors Ltd. price can reach defined target. Chandan Taparia recommended to keep a stoploss at Rs 18500 .
Eicher Motors Ltd., incorporated in 1982, has a market cap of Rs 51835.34 crore.
Investment Rationale
There is a breakout from its rounding formation with buying interest in most of the auto stocks.
For the quarter ended March 31, 2020, the company reported consolidated sales of Rs 2190.32 crore, down -6.81 per cent from last quarter sales of Rs 2350.45 crore and down -10.95 per cent from last year's same quarter sales of Rs 2459.68 crore. The company reported net profit after tax of Rs 318.29 crore in the latest quarter.
Promoter/FII Holdings
Promoters held 49.28 per cent stake in the company as of March 31, 2020, while FIIs held 27.71 per cent, DIIs 11.72 per cent and public and others 11.75 per cent.
