CLSA maintained a buy rating on Eicher Motors with a target price of Rs 4154. The stock closed at Rs 3363 on 22 August. The company is seeing a strong replacement demand which is likely to support Royal Enfield’s volume growth, CLSA said. “Exports are likely to be a key growth area. Royal Enfield’s EBITDA per vehicle is poised to climb higher,” said the note.
Sebi permits use of mutual funds for IAs, RAs deposit compliance
Sebi has allowed investment advisers and research analysts to use liquid mutual funds and overnight mutual funds for meeting their mandatory deposit requirements, providing an