Eicher Motors Stock Dips 3% After Four-Day Surge

2 Feb 2024 , 12:03 PM

Eicher Motors witnessed a 3% decline to Rs 3,815 in morning trade on February 2, halting a four-day winning streak as investors sought to lock in profits.

At the time of writing, the stock had fallen 1.25%% to Rs 3,872 on the NSE.

In January 2024, Eicher Motors reported a modest 2% year-on-year growth in total vehicle sales, reaching 76,187 units compared to 74,746 motorcycles sold in the same period last year.

Models with engine capacity up to 350cc experienced a slight decline of 1%, totaling 67,620 units, down from 68,183 units in January 2023.

However, the segment with engine capacity exceeding 350cc witnessed a notable 31% increase, rising to 8,657 units from 6,563 units sold in January last year.

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