Eicher Motors Ltd. is in focus after the approval of Royal Enfield's expansion to Andhra Pradesh got approved on Wednesday. Tthe motorcycle manufacturer, part of Eicher Motors Ltd, plans to invest Rs 2,200 crore in two phases to set up a new manufacturing plant at Satyavedu in Andhra Pradesh's Tirupati district.
Eicher Motors' shares traded at a high of 2% at Rs 7,457 apiece.
Of the 40 analysts tracking this stock, 27 have a buy call on Eicher, nine have a 'hold' call, and four have a sell call on teh stock, as per Bloomberg data.
This marks the homegrown motorcycle brand's first expansion since commecing operations in Tamil Nadu in 1955. The announcement comes just ahead of a new government assuming office in Tamil Nadu.
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