Eicher Motors rises 30% in thirteen days; hits 52-week high

Eicher Motors stock gained 30.2% in thirteen days from its previous closing low of Rs 2029.55. The stock has hit a 52-week high of Rs 2655.05 in intraday today. It is 112% up from its 52-week low of Rs 1246 as registered on 7 April 2020.

The stock’s RSI (relative strength index) stood at 81.627. The RSI oscillates between zero and 100. Originally the RSI is considered overbought when above 70 and oversold when below 30.


In the last three months, shares of Eicher Motors have surged 24.34% outperforming the Nifty Auto index which rose 10.83% in the same period. The stock is trading above its 50 and 100 days simple moving average placed at 2208.79 and 2144.56 respectively. These levels will act as crucial support zones in the near term.

The consolidated net profit of Eicher Motors dropped 40% to Rs 343.34 crore on 2.7% decrease in net sales to Rs 2,111.98 crore in Q2 September 2020. EBITDA (earnings before interest, taxes, depreciation, and amortization) fell 13% to Rs 471 crore in Q2 FY21 as compared to Rs 541 crore in the same quarter of the previous financial year.

Eicher Motors is the parent company of Royal Enfield, the global leader in middleweight motorcycles it also has a joint venture with Sweden’s AB Volvo – Volvo Eicher Commercial Vehicles (VECV) which operates in India’s commercial vehicle space.