Eicher motors is on a roll. On 2nd August 2016 the market capitalisation (m-cap) of Eicher Motors stood at about Rs 61,000 crore, just 7 per cent away from Hero MotoCorp’s m-cap of Rs 65,000 crore.
With healthy quarterly earnings and upbeat analysts' estimates, Eicher Motors looks set to challenge Hero MotoCorp to become the second most valued two-wheeler stock. |
On Tuesday, the market capitalisation (m-cap) of Eicher Motors stood at about Rs 61,000 crore, just 7 per cent away from Hero MotoCorp's m-cap of Rs 65,000 crore.
Prabhudas Lilladher has a target of Rs 23,999 for the Eicher Motors stock, suggesting an 8 per cent potential upside. Edelweiss Securities has a target of Rs 23,917 (upside potential 7 per cent), while Morgan Stanley sees the stock at Rs 23,229 (upside potential 4 per cent) in a year's time.
A glance at price movements of the two stocks over the past 16 years suggests Eicher Motors briefly displaced Hero MotoCorp from the second position during the May-July period of 2015. Bajaj Auto stands the numero uno in this segment with about Rs 79,500 crore in market capitalisation.
The Eicher Motors stock has risen 31 per cent in the past six months against a 26 per cent gain in the shares of Hero MotoCorp.
Full article: http://auto.economictimes.indiatimes...stock/53498515