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Why upside looks limited for Eicher Motors' stock

Why upside looks limited for Eicher Motors' stock
Why upside looks limited for Eicher Motors' stock
The stock has gained 48% over the past three months with rising interest from domestic institutions

Synopsis

The order backlog of Royal Enfield (RE) bikes is at 40,000-45000, equivalent to the sales volume in July.

ET Intelligence Group: The stock of Eicher Motors has been on a roll following a split and the fact that the company’s iconic Royal Enfield bikes are back in demand attracting a waiting period. The stock has gained 48% over the past three months with rising interest from domestic institutions which increased their stake in the counter by 80 basis points sequentially to 9.3% in the June quarter. However, the stock’s upside looks limited given the
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The Economic Times