Eicher Motors Stock Surges After Impressive Q2 Profits

Eicher Motors' stock surged nearly 7% after announcing an 8% rise in consolidated profit for the September 2024 quarter. The company's market valuation increased significantly, driven by robust sales across its divisions, including Royal Enfield. The firm reported the highest-ever second-quarter revenue of Rs 4,263 crore.

Eicher Motors' shares rose markedly, closing nearly 7% higher as the company revealed an 8% growth in consolidated profit for the September quarter of 2024.

On the BSE, the stock saw a 6.46% uplift, ending at Rs 4,885.55, and peaked at Rs 4,972.50 during the day. Similarly, on the NSE, the price increased by 6.58% to Rs 4,890.95.

The automaker's market value surged by Rs 8,124.53 crore, totaling Rs 1,33,893.73 crore. Eicher Motors attributed its financial success to strong sales across its segments, particularly highlighting a record second-quarter revenue of Rs 4,263 crore.

(With inputs from agencies.)