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.
IndiGo profit falls on higher cost on older planes
The airline was forced to induct older planes due to grounding led by issues of Pratt & Whitney engines