EICHER MOTORS
NOMURA ON EICHER MOTORS : 02.09.2021
• Maintain Reduce, Target at Rs 2374/share
* Eicher has launched 'New Classic 350 launched at INR 184k
• New model prices ~INR5-7k above the old Classic 350
* Implied volume run-rate of ~73k units for remaining months of FY22F
NOMURA ON EICHER 02.09.2021
* New Classic 350 Launched At *1.84 Lakh
• Royal Enfield Recording Mthly Run-rate Of 43,000 UnitsFY22 YTD
* Run-rate Is Below Our Estimate Of 60,000 Units For FY22
* Higher Pricing For New Royal Enfield May Impact Sales
* MAINTAIN REDUCE TARGET: 2,374
