EICHERMOT

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May 14 (Reuters) - India's Eicher Motors, EICH.NS, maker of Royal Enfield motorcycles, beat fourth-quarter profit estimates on Wednesday, helped by strong demand for its higher-capacity motorcycles along with elevated exports.

The company's net profit came in at 13.62 billion rupees ($159.75 million) in the three months ended March 31, compared to 12 analysts' average estimate of 12.68 billion rupees, as per data compiled by LSEG.

Sales of motorcycles with engine capacity above 350cc, such as the 'Himalayan', rose about 42% compared to a 20.4% growth the year before, reflecting growing interest in the premium segment. These models start at around 250,000 rupees.

Sales of these higher-priced, margin-boosting motorcycles accounted for 13.8% of total fourth-quarter sales, up from 12.1% in the same period a year ago.

Meanwhile, its exports grew more than 42% and made up 11.6% of total sales, as the company expanded its network into countries such as Bangladesh, although the Americas remained its largest oversease market.

The company's total revenue from operations rose 23.2% to 52.41 billion rupees, edging past 13 analysts' estimates of 52.14 billion rupees.

Meanwhile, expenses rose 27% to 42 billion rupees, with raw material and component costs - accounting for more than half of the total - rising 24%.

Rival Bajaj Auto BAJA.NS is yet to report its quarterly results, while Hero MotoCorp HROM.NS missed profit estimates on Tuesday.

($1 = 85.2590 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru; Editing by Mrigank Dhaniwala and Varun H K)

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May 1 (Reuters) - Eicher Motors Ltd EICH.NS:

• EICHER MOTORS LTD - VECV REPORTS TOTAL SALES VOLUME OF 6,846 UNITS FOR APRIL

Further company coverage: EICH.NS

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April 17 (Reuters) - Eicher Motors Ltd EICH.NS:

• ROYAL ENFIELD LAUNCHES NEW CLASSIC 350 IN NEPAL

Source text: ID:nBSE8frYF

Further company coverage: EICH.NS

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April 1 (Reuters) - Eicher Motors Ltd EICH.NS:

• MARCH TOTAL VECV SALES 12,094 UNITS

Source text: ID:nBSE9shnP8

Further company coverage: EICH.NS

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March 13 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• INDIA'S FEB 2-WHEELER SALES 13,84,605 UNITS - INDUSTRY BODY

• INDIA'S FEB 3-WHEELER SALES 57,788 UNITS - INDUSTRY BODY

• INDIA'S FEB TOTAL DOMESTIC PASSENGER VEHICLE SALES 3,77,689 UNITS - INDUSTRY BODY

• INDIA AUTO INDUSTRY BODY: UPCOMING FESTIVITIES OF HOLI, UGADI IN MARCH LIKELY TO CONTINUE TO DRIVE DEMAND

Further company coverage: ASOK.NS

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** Eicher Motors' EICH.NS shares fall 6.1% to 5,013 rupees, set for biggest one-day drop in more than 1.5 years

** Stock biggest loser on Nifty 50 .NSEI and Nifty auto .NIFTYAUTO indexes, which are down 0.5% and 1.4% each

** Royal Enfield motorcycle maker misses Q3 profit, margin estimates on higher costs and higher sales of low-margin models

** Jefferies cuts FY25-27 EPS by 1%-5% on lower Royal Enfield margin at 24.9%, marketing initiatives to boost growth, and bunched up launch expenses; retains 'Buy'

** "Believe Royal Enfield should be a key beneficiary of 2W premiumization, and the toughest phase of competition is behind" - Jefferies

** Growth over margins is the right strategy, in our view - but with the stock pricing in high growth and high margins, achieving both will be tough - Morgan Stanley

** Mean rating of stock is 'hold;' median PT is 5,437.50 rupees - LSEG

** Peers Bajaj Auto BAJA.NS, TVS Motor TVSM.NS and Hero MotoCorp HROM.NS 'buy'

** EICH last down 5.5%, cutting YTD gains to 10.7% vs a flat auto index

(Reporting by Meenakshi Maidas in Bengaluru)

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Feb 10 (Reuters) - Eicher Motors Ltd EICH.NS:

• EICHER MOTORS LIMITED ANNOUNCES BOARD CHANGES

• SIDDHARTHA LAL APPOINTED AS THE EXECUTIVE CHAIRMAN OF THE COMPANY’S BOARD

• VINOD AGGARWAL APPOINTED AS THE VICE CHAIRMAN OF EICHER MOTORS LIMITED

• B. GOVINDARAJAN APPOINTED AS THE MANAGING DIRECTOR OF EICHER MOTORS LIMITED

Source text: [ID:]

Further company coverage: EICH.NS

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Feb 6 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• INDIA'S FADA: OVERALL AUTO RETAIL GREW BY 6.6% YOY IN JAN

• INDIA'S FADA: PERSISTENT CASH-FLOW CONSTRAINTS, SUBDUED INDUSTRIAL DEMAND COULD CAP UPSIDE POTENTIAL

• INDIA'S FADA: SUPPORTIVE POLICIES, POST-BUDGET STIMULUS MAY HELP SUSTAIN SECTOR’S EARLY-YEAR GAINS

• INDIA'S FADA: ONGOING FESTIVE/WEDDING DEMAND, FRESH PRODUCT INTRODUCTIONS COULD SUSTAIN FOOTFALLS IN NEAR-TERM

• INDIA'S FADA: NEARLY HALF OF DEALERS ANTICIPATE GROWTH IN FEB,43% EXPECT SALES TO STAY FLAT,11% FORESEE DIP

• INDIA'S FADA: AUTO RETAIL SECTOR ENTERS FEBRUARY WITH CAUTIOUS OPTIMISM

Source text: [ID:]

Further company coverage: ASOK.NS

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Feb 4 (Reuters) - Eicher Motors Ltd EICH.NS:

• EICHER MOTORS LTD - GETS GST DEMAND ORDER TOTALS 88.8 MILLION RUPEES

Source text: ID:nBSE93mzjz

Further company coverage: EICH.NS

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** Eicher Motors EICH.NS gains as much as 3.4% to a record high of 5,575.5 rupees; last up ~1%

** Royal Enfield motorcycle maker's total sales jumps 20% y/y in January

** Rivals Hero MotoCorp HROM.NS, Bajaj Auto BAJA.NS log 2% and 7% rise in total sales in the period, respectively

** HROM, BAJA down 0.6% and 1.3%

** EICH, HROM, BAJA rated "buy" on avg - LSEG

** Eicher Motors among four stocks trading in green on 15-member Nifty auto index .NIFTYAUTO, which is down ~0.7%

** EICH up ~14% YTD

(Reporting by Manvi Pant in Bengaluru)

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Jan 14 (Reuters) -

• INDIA'S DEC TOTAL DOMESTIC PASSENGER VEHICLE SALES 3,14,934 UNITS - INDUSTRY BODY

• INDIA'S DEC 2-WHEELER SALES 11,05,565 UNITS - INDUSTRY BODY

• INDIA'S DEC 3-WHEELER SALES 52,733 UNITS - INDUSTRY BODY

• INDIA'S JAN-DEC TOTAL DOMESTIC PASSENGER VEHICLE SALES 42,74,793 UNITS - INDUSTRY BODY

• INDIA'S JAN-DEC 2-WHEELER SALES 1,95,43,093 UNITS - INDUSTRY BODY

• INDIA'S JAN-DEC 3-WHEELER SALES 7,28,670 UNITS - INDUSTRY BODY

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** Eicher Motors EICH.NS surges to record high of 5,228.15 rupees

** Stock last up 6.5%, set for best day since Dec 2023

** Royal Enfield motorcycle maker says sales jumped 25% YoY in Dec, while exports surged 90%

** Trading vol of 600,000-plus shares is 1.5x the 30 day avg

** Eicher shares have gained 30.2% in the last 12 months

** Auto index .NIFTYAUTO up ~2% on the day, with Maruti Suzuki MRTI.NS up 3.7%, adding to Weds gains on upbeat sales

(Reporting by Ananta Agarwal in Bengaluru)

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Jan 1 (Reuters) - Eicher Motors Ltd EICH.NS:

• EICHER MOTORS - DEC TOTAL VECV SALES 8,324 UNITS

Source text: [ID:]

Further company coverage: EICH.NS

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Dec 13 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• INDIA'S NOV TOTAL DOMESTIC PASSENGER VEHICLE SALES 3,47,522 UNITS - INDUSTRY BODY

• INDIA'S NOV 2-WHEELER SALES 16,04,749 UNITS - INDUSTRY BODY

• INDIA'S NOV 3-WHEELER SALES 59,350 UNITS - INDUSTRY BODY

Source text: [ID:]

Further company coverage: ASOK.NS

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Dec 4 (Reuters) - Eicher Motors Ltd EICH.NS:

• INAUGURATION OF NEW ASSEMBLY PLANT IN THAILAND

• NEW ASSEMBLY PLANT HAS CAPACITY OF 30,000 UNITS PER YEAR

Source text: [ID:]

Further company coverage: EICH.NS

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Nov 15 (Reuters) - INDIA AUTO DEALERS' BODY FADA:

• NEARLY HIT OUR FORECASTED TARGET OF 4.3 MILLION VEHICLES DURING 42 DAYS FESTIVE PERIOD

• AUTO INDUSTRY YET TO FULLY BENEFIT FROM GOVERNMENT PUSH IN INFRASTRUCTURE SPENDING

• EXPECTS GOVERNMENT PUSH IN INFRASTRUCTURE SPENDING TO BOLSTER COMMERCIAL VEHICLE SALES

• COULD HAVE MET 4.5 MLN UNITS TARGET IF NOT FOR UNSEASONAL HEAVY RAINS IN SOUTH INDIA

• ANTICIPATES CAR STOCK LEVELS WILL REDUCE FURTHER FROM OCTOBER LEVELS

• URGES OEMS TO FOCUS ON LIQUIDATING 2024 STOCK AHEAD OF YEAR END

• LOOKING AHEAD, TRACTORS TO PERFORM BETTER, SUPPORTED BY GOOD RAINFALL, RISE IN MSP OF CROPS

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Updates at 10:32 a.m. IST

By Bharath Rajeswaran

Nov 14 (Reuters) - Indian shares rose on Thursday, after sinking into correction territory in the previous session, with Eicher Motors driving the gains in the blue-chip indexes following a better-than expected quarterly profit.

The NSE Nifty 50 .NSEI rose 0.18% to 23,602.25 as of 10:32 a.m. IST, while the BSE Sensex .BSESN gained 0.15% to 77,808.18.

Eleven of the 13 major sectors advanced. The broader small- .NIFSMCP100 and mid-caps .NIFMDCP100 gained about 1.5% and 1.1%, respectively.

Eicher EICH.NS, which makes Royal Enfield motorcycles, jumped 7.5%, the most on the Nifty, after its September-quarter profit beat market expectations, helped by increased sales of its higher-capacity models such as the "Himalayan".

Still, analysts remained cautious after the Nifty and the small- and mid-cap indexes slipped into correction in the previous session, with the Sensex just about avoiding to do so.

"The current market texture remains weak but oversold. Hence, there could be one day of quick pullback rally from the current levels," said Shrikant Chouhan, head of equity research at Kotak Securities.

The market weakness, which pulled the Nifty down 10% from its record high on Sept. 27 and confirmed the correction, has been due to a disappointing corporate earnings season and the massive foreign outflows worth $15 billion in the last 33 sessions.

Adding to that, data earlier this week showed inflation jumped, fanning fears of a consumption slowdown and dampening hopes of a domestic rate cut in the near-term.

Among individual stocks, Jio Financial Services JIOF.NS and Zomato ZOMT.NS rose 5.7% and 3.7%, respectively, after getting the markets regulator's approval for derivatives trading.

Brokerage Nuvama also identified the two companies as likely candidates for inclusion into Nifty 50 index in its next rejig in March 2025.

HDFC Bank HDBK.NS, bearing the most weightage on the Nifty 50, gained 1.1% and led financials .NIFTYFIN about 0.9% higher.

Financials gained as investors, amid the correction, sought safety in the only sector with relatively cheaper valuations compared to historical averages, analysts said.

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Sumana Nandy and Savio D'Souza)

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Nov 13 (Reuters) - Eicher Motors Ltd EICH.NS:

• EICHER MOTORS Q2 CONSOL NET PROFIT 11 BILLION RUPEES; IBES EST. 10.66 BILLION RUPEES

• EICHER MOTORS Q2 CONSOL TOTAL REV FROM OPS 42.63 BLN RUPEES; IBES EST. 44.11 BLN RUPEES

Source text: [ID:]

Further company coverage: EICH.NS

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Nov 5 (Reuters) - Eicher Motors Ltd EICH.NS:

• INTRODUCES NEW EV BRAND, FLYING FLEA POWERED BY ROYAL ENFIELD

Source text: ID:nBSE2pdkFG

Further company coverage: EICH.NS

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Nov 1 (Reuters) - Eicher Motors Ltd EICH.NS:

• OCT TOTAL MOTORCYCLE SALES AT 1,10,574 UNITS

Source text: ID:nBSE9DRfDR

Further company coverage: EICH.NS

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Oct 7 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• INDIA'S AUTO DEALER'S BODY: SEPT OVERALL SALES WITNESSED SIGNIFICANT DECLINE OF -9.26% YOY

• INDIA'S FADA: PASSENGER VEHICLE DEALERS FACING ALL TIME HIGH INVENTORY LEVELS OF 80-85 DAYS

• INDIA'S FADA: PASSENGER VEHICLE DEALERS UNDER FINANCIAL PRESSURE, INCREASED CASH FLOW CHALLENGES

• INDIA'S FADA: URGE RBI TO ISSUE STRICTER RULES ON CHANNEL FUNDING TO MITIGATE DEALERS FINANCIAL RISK

• INDIA'S FADA - MIXED PERFORMANCE OBSERVED ACROSS SEGMENTS IN SEPT

• INDIA'S FADA - MONSOON DISRUPTED RETAIL PERFORMANCE IN REGIONS, NEGATIVELY IMPACTING DEMAND

• INDIA'S FADA - FESTIVE SEASON BOOST WITH BOTH NAVRATRI, DIWALI FALLING IN SAME MONTH,EXPECTED TO UPLIFT SALES

• INDIA'S FADA - FAVOURABLE AGRI CONDITIONS LIKELY TO SPUR RURAL DEMAND FOR 2W, PV, TRAC SEGMENTS
  

Source text for Eikon: [ID:]

Further company coverage: ASOK.NS

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Oct 1 (Reuters) - Eicher Motors Ltd EICH.NS:

• SEPT TOTAL VECV SALES 7,609 UNITS

Source text for Eikon: ID:nBSExdMQL

Further company coverage: EICH.NS

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Sept 17 (Reuters) - Eicher Motors Ltd EICH.NS:

• MAXPOSURE - UNIT TO DESIGN ROYAL ENFIELD PRINT ADVERTISEMENT CAMPAIGNS

Source text for Eikon: ID:nNSE9b5vFb

Further company coverage: EICH.NS

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Sept 13 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• INDIA'S AUGUST TOTAL DOMESTIC PASSENGER VEHICLE SALES 3,52,921 UNITS- INDUSTRY BODY

• INDIA'S AUGUST 2-WHEELER SALES 17,11,662 UNITS - INDUSTRY BODY

• INDIA'S AUGUST 3-WHEELER SALES 69,962 UNITS - INDUSTRY BODY

• INDIA AUTO INDUSTRY BODY: AS COUNTRY ENTERS FESTIVE SEASON, DEMAND FOR VEHICLES EXPECTED TO GROW

Source text for Eikon: [ID:]

Further company coverage: ASOK.NS

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Aug 14 (Reuters) - Society of Indian Automobile Manufacturers:

• INDIA'S JULY TOTAL DOMESTIC PASSENGER VEHICLE SALES 3,41,510 UNITS - INDUSTRY BODY

• INDIA'S JULY 3-WHEELER SALES 59,073 UNITS - INDUSTRY BODY

• India's July 2-Wheeler Sales 14,41,694 Units - Industry Body

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** Shares of Eicher Motors EICH.NS rise 4% to 4,760 rupees

** Stock is top gainer in Nifty 50 index .NSEI and Nifty auto index .NIFTYAUTO, which are up 1.11% and 1.72%, respectively

** The maker of Royal Enfield motorcycles posted a bigger-than-expected, nearly 20% rise in Q1 profit

** Analysts at Nirmal Bang expect EICH's domestic business to grow 11% CAGR and exports to grow at 17% CAGR, backed by more model launches and industry tailwinds

** Expect margin expansion of 100bps from FY24 levels supported by a richer product mix

** Analysts tracking EICH rate it "hold" on avg, same as Bajaj Auto BAJA.NS and TVS Motor TVSM.NS, vs "buy" for Hero MotoCorp HROM.NS- LSEG data

** Stock up 15% so far this year vs a 12.3% gain in Nifty 50

(Reporting by Ashna Teresa Britto in Bengaluru)

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Aug 8 (Reuters) - Eicher Motors Ltd EICH.NS:

• EICHER MOTORS Q1 CONSOL NET PAT 11.01 BILLION RUPEES; IBES EST. 10.14 BILLION RUPEES

• EICHER MOTORS Q1 CONSOL TOTAL REV FROM OPS 43.93 BLN RUPEES; IBES EST. 42.38 BLN RUPEES

Source text for Eikon: [ID:]

Further company coverage: EICH.NS

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** Shares of Eicher Motors EICH.NS down 5.2% at 4,710.50 rupees

** Co on Thursday reported an 8% drop in July motorcycle sales

** Royal Enfield motorcycle maker set for worst day since July 4, 2023 when smaller rivals Hero MotoCorp HROM.NS, Bajaj Auto BAJA.NS launched competing premium motorcycle models

** EICH biggest pct loser on blue-chip Nifty 50 index .NSEI and among auto stocks .NIFTYAUTO

** Over 1.4 mln shares traded, 2.4x 30-day avg volume

** Analysts tracking EICH rate it "hold" on avg, same as BAJA and TVS Motor TVSM.NS, vs "buy" for HROM - LSEG data

** EICH down ~6% this week and set for second-worst week in 2024

** Stock's YTD gains now trimmed to 14%, the least among Indian two-wheeler manufacturers

(Reporting by Nandan Mandayam in Bengaluru)

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Aug 1 (Reuters) - Eicher Motors Ltd EICH.NS:

• EICHER MOTORS - JULY TOTAL VECV SALES 6,622 UNITS VERSUS 5877 UNITS YEAR AGO

Source text for Eikon: ID:nBSE8SRCh1

Further company coverage: EICH.NS

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BENGALURU, July 25 (Reuters) - India's Ashok Leyland reported a first-quarter profit that missed estimates on Thursday, as tax expenses weighed down the bus and truck manufacturer more than expected.

The Hinduja Group company's profit for the April-June quarter fell 8.8% to 5.26 billion rupees (around $63 million). Analysts had expected 5.66 billion rupees, as per LSEG data.

Its profit jumped more than eight-fold last year due to a larger tax credit.

Revenue rose 5% to nearly 86 billion rupees in the June quarter.

KEY CONTEXT

Ashok Leyland is the first to report June-quarter results among commercial vehicle (CV) makers, whose sales are seen as an indicator of economic activity.

India's CV sales reported a surprise 3.5% growth in the April-June quarter, with Ashok's 6% rise in dispatches to dealers the most among sector leaders.

The growth was in contrast to most analysts' and industry experts' expectation of a fall due to India's general election.

Larger competitors Tata Motors and Mahindra & Mahindra MAHM.NS will report results next week.

PEER COMPARISON

* The mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell

** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT

52-WEEK STOCK PERFORMANCE

Shares of Ashok Leyland have risen about 26% in the last 52 weeks, the least among its competitors.

($1 = 83.7026 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru; Editing by Sherry Jacob-Phillips and Janane Venkatraman)

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