Eicher Motors Hits 52-Week High on Strong June Sales

Eicher Motors shares jumped over 4 per cent to hit a 52-week high of Rs 20,475 on Wednesday after the company reported strong growth in its motorcycle sales for the month of June 2015.
  Eicher Motors said its motorcycle sales in the month of June 2015 registered a strong annual growth of 48 per cent at 37,341 units, which was higher than Street expectation.
  Analysts polled by NDTV had estimated its June sales at 36,350 units, a growth of 43 per cent.
  International brokerage house CLSA has maintained "buy" rating on the stock with a target price of Rs 21,800, indicating a potential upside of over 11 per cent from yesterday's closing price.
  CLSA said demand continues to be very strong for Eicher Motors and Royal Enfield bikes remains a long-term structural story.
  Eicher Motors shares ended 4.28 per cent higher at Rs 20,425 apiece, outperforming the broader Nifty, which closed 1 per cent higher.